Zimbabwe ends foreign currency use as inflation spirals

  • News Digest

Jun 25, 2019-

HARARE: Zimbabwe announced on Monday that it would abandon the use of foreign currencies which replaced the local dollar that was swiped out by hyperinflation ten years ago. The crisis-hit country is facing another bout of sharply rising prices, with official inflation now at nearly 100 per cent—the highest since the hyperinflation era. Zimbabwe’s central bank said in a statement that official legal tender would be only the two local currencies—bond notes and “RTGS”—that were introduced as US dollar banknotes dried up. (AFP)

Published: 25-06-2019 09:26

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