Reserve Bank Of India Currency Excange Rates
With the country’s rate of inflation hitting a near incalculable five sextillion percent, Mr Gono has acted with unwonted alacrity in ordering bank notes to be shorn of twelve of their zeros. In short, a one trillion Zimbabwean dollar note (Z$1,000,000,000,000) is now reduced to a more manageable one dollar (Z$1) version. While the move should afford some respite to overworked calculators and computers, transactions are nevertheless increasingly performed in recently sanctioned foreign currencies.
Zimbabwe Today
Until this week anything more expensive than basic food staples required suitcases of cash to purchase. Moreover, a set of circumstances obtained in the blighted country that meant bank notes were massively devalued in any one twenty-four period. Unrest and disquiet have – understandably – spread faster than the cholera that continues to ravage the country. And only last week workers in the public sector – remunerated in native Zimbabwean dollars – struck after their wages were essentially reduced to nothing.
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