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Hyperinflation In Zimbabwe
Hyperinflation in Zimbabwe is an ongoing period of currency instability in Zimbabwe that, using Cagan's definition of hyperinflation, began in February 2007. During the height of inflation from 2008 to 2009, it was difficult to measure Zimbabwe's hyperinflation because the government of Zimbabwe stopped filing official inflation statistics. However, Zimbabwe's peak month of inflation is estimated at 79.6 billion percent month-on-month, 89.7 sextillion percent year-on-year in mid-November 2008. In April 2009, Zimbabwe stopped printing its currency, and currencies from other countries were used. In mid-2015, Zimbabwe announced plans to have completely switched to the United States dollar by the end of that year. In June 2019, the Zimbabwean government announced the reintroduction of the Real Time Gross Settlement dollar (RTGS), to be known simply as the "Zimbabwe dollar", and that all foreign currency was no longer legal tender. By mid-July 2019, inflation had increased to 175 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zimbabwean Dollar (2019–present)
The Zimbabwean dollar (sign: Z$; code: ZWL), also known as the Zimdollar or Real Time Gross Settlement (RTGS) dollar, is one of the official currencies of Zimbabwe. It was the only official currency in Zimbabwe from June 2019 to March 2020, after which foreign currencies were legalised again. History The RTGS dollar was introduced on 21 February 2019 as part of the February 2019 Monetary Policy that was enacted by the Governor of the Reserve Bank of Zimbabwe, John Mangudya. The currency was made up of bond coins, bond notes and RTGS balances. The original bond notes were introduced in 2016 to ease US Dollar cash shortages at the time. They were renamed RTGS dollars in 2019, and became the only legal currency in Zimbabwe on 24 June 2019, replacing the multi-currency system. On 29 October 2019, when inflation on the RTGS dollar had reached over 300%, the central bank announced a "new" currency to be introduced in mid-November 2019. The "new" currency initially traded alongside ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rhodesian Dollar
The Rhodesian dollar (''R$ or Rh$'', ) was the currency of Rhodesia between 1970 and 1980. It was subdivided into 100 cents. History The dollar was introduced on 17 February 1970, less than a month before the declaration of a republic on 2 March 1970. It replaced the Rhodesian pound at a rate of 2 dollars to 1 pound. The dollar proved to be a strong currency, at parity with the pound sterling right up to the very end of Rhodesia in 1980, when it was replaced by the Zimbabwean dollar at par. However, the Rhodesian dollar was never a fully convertible currency and its exchange rate was therefore not an indication of the underlying economics. Half pound In adopting the Rhodesian dollar, Rhodesia followed the pattern of South Africa, Australia, and New Zealand in that when it adopted the decimal system, it decided to use the half pound unit as opposed to the pound unit of account. The choice of the name dollar was favoured by the then Minister of Finance, John Wrathall, who regard ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
