Zimbabwe shelves own currency for one-year

[krispos42]

Source: The Times of India

12 Apr 2009, 2018 hrs IST

HARARE: The Zimbabwean government has decided to suspend the country's national currency for a year, which has in fact already disappeared from circulation, state-run media reported Sunday.

"The Zimbabwe dollar will be out for at least a year ....because there is nothing to support and hold its value," Economic Planning Minister Elton Mangoma told the Sunday Mail.

In January, in response to unprecedented hyperinflation, Zimbabwe legalised the use of foreign currencies including the Botswana pula, the South African rand, the United States dollar, the Euro and the British pound. The Zimbabwe dollar immediately went out of circulation.

In the past two years Zimbabwe's central bank knocked 22 zeros off the local currency as the country's economy plunged info freefall.

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Read more: http://economictimes.indiatimes.com/News/Zimbabwe-shelves-own-currency-for-one-year/articleshow/4392066.cms

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22 zeros... that's dividing by 10,000,000,000,000,000,000,000, which is, lemme see, 10 sextillion, if I counted right.


Jeez :wow:

[Deja Q]

1. Uh-oh. Not even the first response and this is a sex thread...

Zimbabwe's fucked.

:(

[FarLeftRage]

2. I have a 100 trillion Zimbabwe dollar banknote

in my currency collection... rather interesting.