Zimbabwe: US $ 1 to 35 million local dollars

Zimbabwe: US $ 1 to 35 million local dollars

06/18/2015 11:16 GMT

Zimbabwe - US 1 to 35 million local dollarsAgencies – after long years of insistence on monetary and fiscal policy have hurt so much the country’s economy, the Government of Zimbabwe was forced to stop dealing National Bdoularha almost its national currency, and to allow foreign currency free trade in an effort to put an end to the ongoing inflation exhausted since 2000 dramatically, so that inflation in the country, does not raise prices at rates Celsius, but compounded every 24.7 hours on average, according to the French magazine Le Point reported Thursday.
And to try to control the currency and the deterioration of inflation, which has a 98% per day, and after that became the local currency, the Zimbabwean dollar, worthless, but less than nothing, says the magazine, the government decided to cancel its currency and practically withdrawn from the country.

Foreign currency

To avoid the growing popular discontent, in an attempt to control the deteriorating situation, the hardline government has allowed in the past, the free trading of international currencies, particularly the currencies of neighboring countries, such as South Africa and remote such as the Chinese yuan and the Indian rupee, along with the US dollar.

In an attempt to get rid of inflation, the government announced its renunciation of its national currency, and gave its citizens 3 months to replace what they own of banknotes, international currency popular in the country, especially the US dollar.

15 zero

It can replace the US dollar, a huge number of stock Zimbabwean, Zbk equivalent to 35 million US Dollar Trading Zimbabwe billion, or 35 and 15 as well as number zero.

And allowed the last action of the government to restore breaths on the financial cash and securities level, but not at the economic level, as inflation, corruption and problems with other development that have dominated the country from the eighties of the last century, worsened more in olefins and threatened serious economy in the country, what makes GDP In Zimbabwe today, and much less than the level that prevailed in 2000.