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Zimbabwe government undermining it's own currency
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Apparently the Zim government is going to pay the government employees monthly(?) bonuses in US dollars. The Zim dollar was introduced at parity with the US dollar in 2019 but with inflation the official exchange rate is now 105 Zim dollars to 1 USD and the black market rate is 175:1.

https://www.yahoo.com/finance/...rency-124832907.html


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Posts: 12729 | Location: Kentucky, USA | Registered: 30 December 2002Reply With Quote
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Oh I know, let's scrap the new Zim $ and start over with the new new Zim $.

The definition of insanity is .....


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Posts: 2933 | Location: Texas | Registered: 07 June 2003Reply With Quote
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sweet....if my math is right, at that rate the $100 trillion zim note I brought home is worth $571,000,000 and change....

If only....


Jeff
 
Posts: 93 | Location: Houston, TX | Registered: 07 November 2010Reply With Quote
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Now substitute Zimbabwe and United States.

We are doing the same thing.

Thanks Slo Joe and Congress!
 
Posts: 11105 | Location: Minnesota USA | Registered: 15 June 2007Reply With Quote
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Yep
 
Posts: 566 | Location: texas | Registered: 29 March 2008Reply With Quote
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quote:
Originally posted by crbutler:
Now substitute Zimbabwe and United States.

We are doing the same thing.

Thanks Slo Joe and Congress!


Exactly!


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Posts: 38103 | Location: Gainesville, TX | Registered: 24 December 2006Reply With Quote
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The best hope for the citizens of Zimbabwe is if BTC becomes the official currency.

https://www.livebitcoinnews.co...re-btc-legal-tender/
 
Posts: 820 | Location: Oklahoma | Registered: 05 March 2013Reply With Quote
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Could it be that Mthuli Ncube fnally gets it? They don't want any more Zim currency. Take your Zim dollars and stuff them into pillows to sell to the tourists and use the king of currency, the USD exclusively. Inflation or the economy didn't destroy the Zim $. You got it backwards.
Cheers.


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Posts: 5256 | Location: Near Hershey PA | Registered: 12 October 2012Reply With Quote
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