Zimbabwe Phases Out Local Dollar - Coin Community Forum

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Author	Replies: 6 / Views: 2,187
thai-vic Pillar of the Community Thailand 1509 Posts	Posted 06/12/2015 05:39 am Check this out http://www.bbc.com/news/world-africa-33105400 I didn't know that the Zimbabwean Dollar was still legal. Mind you, the exchange rate and numbers are mindbogglingly HUGE! If I cashed in my collection (ZD 150,195,100,000,190) I've worked out that I would receive ... less than $0.005! Report this Post to the Staff

Sap Moderator Australia 16894 Posts	Posted 06/12/2015 06:40 am Zimbabwean paper money was made obsolete some time ago; they effectively officially gave up trying to keep up with the hyperinflation and legally permitted the use of foreign currency in day to day cash transactions. What this is talking about is electronic money in people's bank accounts, as the Zim dollar was still theoretically the recognized currency of the country. They're now formally abandoning these last non-physical remnants of the old Zim dollar and everyone's bank accounts will now be in US$. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis Report this Post to the Staff
SilverStackerKid Pillar of the Community United States 6478 Posts	Posted 06/12/2015 09:54 am If someone pays with that you have a lot of counting to do. Report this Post to the Staff
NickelCollector Valued Member United States 212 Posts	Posted 06/14/2015 09:49 am I may have skipped over some stuff, but I feel that the huge inflation rate is caused by how many different currencies they use. Report this Post to the Staff
nalaberong Pillar of the Community Canada 2805 Posts	Posted 06/14/2015 10:44 am You skipped over some stuff. The different currencies were introduced after the inflation had run its course. Report this Post to the Staff
Libertad Pillar of the Community Canada 3692 Posts	Posted 06/15/2015 9:29 pm Z$35 quadrillion to US$1. That's no joke! How is it that no one challenges Mugabe's reign? Outside interests most probably secure his position. Report this Post to the Staff
Anaximander Pillar of the Community United Kingdom 709 Posts	Posted 06/15/2015 9:46 pm I believe the runaway inflation was partly caused by, and greatly aggravated by, the unrestricted printing of money. I am no expert, but I have read that when a government increases the supply of money like that, the value of the money drops. Report this Post to the Staff
	Replies: 6 / Views: 2,187

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