Showing posts with label money. Show all posts
Showing posts with label money. Show all posts

Friday, November 6, 2015

The Death of a Currency: Zimbabwe Dollar Demonetized

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$100 trillion dollar bill in Zimbabwe dollars, front side, from Zimbabwe's worst period of hyperinflation in 2008

By Olga Rodriguez-Walmisley, with additional reporting by Evan Centanni

The End of the Zimbabwe Dollar
As of last month, the Zimbabwe dollar (Z$) no longer has any monetary value: After more than a decade of extreme inflation, it has been permanently retired. It was the official currency of Zimbabwe for 29 years, from 1980 to 2009, and continued to be circulated until this past September. Today, the government of Zimbabwe uses US dollars, while at least seven other foreign currencies are also accepted as legal tender: the South African rand, Botswana pula, British pound, Indian rupee, Chinese yuan, Japanese yen, and Australian dollar.