Zimbabwean dollar pronounced dead

March 23rd, 2009 |  |  8 Comments

HARARE, Zimbabwe (UPI) — Zimbabwean Finance Minister Tendai Biti told members of Parliament the country’s currency was essentially dead.

“The death of the (Zimbabwean) dollar is a reality we have to live with,” he said during a 2009 budget presentation. “Since October 2008, our national currency has become moribund,”

Along with his remarks, Biti announced “the removal of all foreign currency surrender requirements,” New Ziana reported Friday.

Previously, Zimbabwe’s central bank required currency traders to pay 5 percent of their gross earnings at the Zimbabwe dollar’s exchange rate.

Inflation in Zimbabwe hit what has been called a “hyperinflation” rate, officially posted as 231 million percent, essentially wiping out the currency’s value.

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8 Comments to “Zimbabwean dollar pronounced dead”

1. kebede bekele says:

   Is this what is awaiting the Ethiopian birr under Weyane???

   [Reply]

   March 23rd, 2009 at 4:27 PM

2. Kirubel18 says:

   Exchange rate from CoinMill.com as of Today

   1 Euro = 15.130 Ethiopian Birr (ETB)
   = 243.170 Zimbabwe Dollar (ZWD)
   = 270.825 Yemeni Rial
   = 1783.550 Tanzanian Shilling (TZS)
   = 15950.000 Indonesian Rupiah

   Can any one explain me, the relationship between exchangerate and the pronounced death of Zimbabwean dollar?

   [Reply]

   March 24th, 2009 at 6:48 AM

3. Netsanet Betigil says:

   Kirobe18.

   Either you have a wrong figure or you missed the Million, Billion in the side of Zimbabe dollar. Otherwise, YOU are born today that you don’t have any idea how Zimbabwe money idea. Why? Because, Mengie is there and gives the worst of the worst advice.

   [Reply]

   March 24th, 2009 at 6:39 PM

4. Tazabiw says:

   Surely, the death of Ethiopian Birr is next dudes!!

   [Reply]

   March 25th, 2009 at 11:56 AM

5. Tazabiw says:

   Guys, do you realize now that Ethiopian inflation is now the first worst from second worst????? So, sad!!!!

   [Reply]

   March 25th, 2009 at 11:57 AM

6. John says:

   This is really sad!!
   In 1994 was Zim$5.50 = US$1 .

   [Reply]

   March 25th, 2009 at 5:29 PM

7. Teddy says:

   Kurubel 18, please visit http://www.oanda.com for forex value. As of today, one USD is equal to 37,456,777.00 ZWD. Read before you critisize or write any thing negative.

   [Reply]

   March 25th, 2009 at 6:44 PM

8. Tesfaye T. says:

   I was in Zimbabwe in 1982, just two years after Mugabe took power. At that time, Zim.$1=US$1.30. The country was sayed to become the African bread basket. This is the prelude of the economic collapse of the continent, if the actual world crisis continue. Lord have merci for continent.

   [Reply]

   March 26th, 2009 at 7:01 PM

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