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Zimbabwe’S Multi-Currency Confusion

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http://www.bbc.co.uk/news/world-africa-26034078

Once known for its billion dollar notes and hyper-inflation, Zimbabwe must be the only place in the world to have eight currencies as legal tender - none of them its own.

For the last five years most people have been using US dollars or South African rand, but pula from Botswana and British pound sterling have also been changing hands.

Now the central bank is also allowing the use of Australian dollars, Chinese yuan, Indian rupees and Japanese yen.

For the moment, customers can open bank accounts in these currencies but the hard cash is not yet in circulation.

"I definitely think there is going to be confusion being caused by so many currencies - for a cashier to be handling so many currencies at the same time," says Denford Mutashu, general manager of Food World, a nationwide supermarket chain.

Currently most shops in the capital, Harare, mark prices in US dollars. The rand is more commonly used in Bulawayo, closer to the South African border - and cashiers check daily exchange rate for conversions.

Is this how it should be let currency's compete amongst themselves?

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In my last job there was a colleague who had married a Zimbabwean. They were planning to settle out there and would tell me how they were financing their plans. Buying cars in UK, and shipping out as spare parts was the big earner for them. They would get paid in US$ in Zimbabwe.

They also made their flight baggage allowance up with cycle tyres!!!

A 'currency' not mentioned in the link, was connected with the car trade......petrol ration coupons were acceptable for most transactions with vehicles. Even to the purchase of fuel, so many to get the fuel, and so many to pay for the fuel.

And not a mention of gold once from my friends.

..._

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was there 2 years back...

In Harare supermarkets you get change in sweeties or IOU notes... Bank notes are insanely dirty disgusting US dollar bank notes

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  • 406 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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