Zimbabweans to get $5 for 175 quadrillion local dollars

Zimbabweans to get $5 for 175 quadrillion local dollars

Zimbabwe’s central bank has announced that the demonetization of the Zimbabwe dollar will occur from June 15 until the end of September. Zimbabweans will start exchanging ‘quadrillions’ of local dollars for a few U.S. dollars, as President Robert Mugabe’s government discards its virtually worthless national currency. The southern African country started using foreign currencies like the U.S. dollar and South African rand in 2009 after the Zimbabwean dollar was ruined by hyper-inflation, which hit 500 billion percent in 2008.

Leave a Reply