Economics
Zimbabwe Dollar Returns, a Decade After It Became Worthless
- Foreign currencies are no longer legal tender: central bank
- Inflation rate is at the highest level since at least 2008
This article is for subscribers only.
Zimbabwe has brought back its own currency, the Zimbabwe dollar, just over a decade after its usefulness was destroyed by hyperinflation.
The central bank said that effective immediately, currencies including the U.S. dollar and the South African rand, in use since 2009, will no longer be accepted as legal tender. A local quasi currency known as bond notes, which was introduced in 2016 but can’t trade outside the country, and their electronic equivalent, the RTGS dollar, will now be known as the Zimbabwe dollar.