The Reserve Bank of Zimbabwe has carried out another 'revaluation' of the hyperinflation-hit Zimbabwean Dollar in which 10,000,000,000 Old Zimbabwean Dollars will be equal to 1 New Zimbabwean Dollar.
This comes hard on the heels of the recent issue of the $100,000,000,000 Agro-Cheque.
Both the old & new currencies are intended to circulate alongside each other until the end of this year.
The Zimbabwean coins,which disappeared from circulation in 2003,& later demonetised,have now been made legal tender again.
I reckon that the 'revaluation' is another exercise in futility,thanks to the crackpot economic policies of 'Crackpot Bob' & his barbaric Z.A.N.U.-P.F. regime.
It won't be long before the zeroes return,as the inflation rate is in reality 100,000,000,000% & going higher.
Aidan. |
