Zimbabweans start exchanging national currency into dollars next week: $1 for 35 quadrillion
Zimbabweans will start exchanging 'quadrillions' of local dollars for a few U.S. dollars next week, as President Robert Mugabe's government discards its virtually worthless national currency, the central bank said on Thursday.
The southern African country started using foreign currencies like the U.S. dollar and South African rand in 2009 after the Zimbabwean dollar was ruined by hyper-inflation, which hit 500 billion percent in 2008.
At the height of Zimbabwe's economic crisis in 2008, Zimbabweans had to carry plastic bags bulging with bank notes to buy basic goods
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Bank accounts with balances of up to 175 quadrillion Zimbabwean dollars will be paid $5. Those with balances above 175 quadrillion dollars will be paid at an exchange rate of $1 to 35 quadrillion Zimbabwean dollars.
http://news.yahoo.com/currency-dies-zimbabweans-5-175-quadrillion-local-dollars-153844646.html
