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Zimbabwean dollar pronounced dead

HARARE, Zimbabwe (UPI) — Zimbabwean Finance Minister Tendai Biti told members of Parliament the country’s currency was essentially dead.

“The death of the (Zimbabwean) dollar is a reality we have to live with,” he said during a 2009 budget presentation. “Since October 2008, our national currency has become moribund,”

Along with his remarks, Biti announced “the removal of all foreign currency surrender requirements,” New Ziana reported Friday.

Previously, Zimbabwe’s central bank required currency traders to pay 5 percent of their gross earnings at the Zimbabwe dollar’s exchange rate.

Inflation in Zimbabwe hit what has been called a “hyperinflation” rate, officially posted as 231 million percent, essentially wiping out the currency’s value.

8 thoughts on “Zimbabwean dollar pronounced dead

  1. Exchange rate from as of Today

    1 Euro = 15.130 Ethiopian Birr (ETB)
    = 243.170 Zimbabwe Dollar (ZWD)
    = 270.825 Yemeni Rial
    = 1783.550 Tanzanian Shilling (TZS)
    = 15950.000 Indonesian Rupiah

    Can any one explain me, the relationship between exchangerate and the pronounced death of Zimbabwean dollar?

  2. Kirobe18.

    Either you have a wrong figure or you missed the Million, Billion in the side of Zimbabe dollar. Otherwise, YOU are born today that you don’t have any idea how Zimbabwe money idea. Why? Because, Mengie is there and gives the worst of the worst advice.

  3. I was in Zimbabwe in 1982, just two years after Mugabe took power. At that time, Zim.$1=US$1.30. The country was sayed to become the African bread basket. This is the prelude of the economic collapse of the continent, if the actual world crisis continue. Lord have merci for continent.

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