Philippines News.Net Wrote:Zimbabwe stops using its own dollars
Philippines News.Net
Sunday 12th April, 2009
Zimbabwe has suspended the use of its own currency.
The state media service, quoting Economic Planning Minister, Elton Mangoma, said the Zimbabwean dollar would be suspended for at least twelve months.
The minister admitted there was nothing to support and hold the value of the currency, the highest denomination of which is a 10 trillion dollar bill.
Hyperinflation in 2007 and 2008 made Zimbabwe's currency virtually worthless.
Prices have stabilised or fallen since the government legalized the use of other currencies, including the US dollar in January.
"Numbers are not part of the real world; they're part of something else."
-Prof. Rolly Panopio, UPLB Math Division
-Prof. Rolly Panopio, UPLB Math Division