Zimbabwe government undermining it's own currency

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17 November 2021, 19:39

Fjold

Zimbabwe government undermining it's own currency

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

Frank

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18 November 2021, 21:13

Russ Gould

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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18 November 2021, 21:15

Jeff P

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....

18 November 2021, 21:17

crbutler

Now substitute Zimbabwe and United States.

We are doing the same thing.

Thanks Slo Joe and Congress!

19 November 2021, 01:25

ledvm

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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A born Texan has instilled in his system a mind-set of no retreat or no surrender. I wish everyone the world over had the dominating spirit that motivates Texans.– Billy Clayton, Speaker of the Texas House

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19 November 2021, 19:53

AilsaWheels

The best hope for the citizens of Zimbabwe is if BTC becomes the official currency.

https://www.livebitcoinnews.co...re-btc-legal-tender/

21 November 2021, 06:14

custombolt

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.