Zimbabwe Currency

Zimbabwe is a country which is suffering from poor economic conditions and had suffered from high inflation and hyperinflation in recent years. After the independence of Zimbabwe, the Zimbabwe currency was introduced. The Zimbabwe currency was started to differentiate it from the previous ruler’s currency. The Zimbabwe currency which was produced in 196o was Zimbabwean dollars. The Zimbabwe currency’s symbol was Z$. The state of poor economic conditions and poor rate in the international market, Zimbabwe currency had suffered great loss. Zimbabwe currency in the international market performed very poorly, and the exchange rate for the Zimbabwe currency was almost next to nothing.

Official Zimbabwe Currency

For example, even millions of dollars in Zimbabwe currency doesn’t amount to much in US dollars. The Zimbabwe currency, Zimbabwe dollar was officially abandoned in 2009, and the country was demonetized with the Zimbabwe currency in 2015.  In place of Zimbabwe dollars, other currencies were introduced in the market as official Zimbabwe currency. Official Zimbabwe currency is mainly US dollars, and most of the trade is made in US Dollars. There are also other currencies which are used as official Zimbabwe currency. These include South African Rand, British Pound, Botswana Pula, Indian Rupee, European Euro, Japanese Yen, Chinese Yuan, and Australian Dollars. These are all the official Zimbabwe currencies and are used in the market of Zimbabwe for the trade and other things. The demonetization process reduced the Zimbabwe dollars into a complete wrap up of their economy. The Zimbabwe economy was replaced by many different currencies of different countries.

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