Zimbabwe’s currency

1,020Views 0Comments Posted 02/04/2024

Zimbabwe’s currency plunged to yet another record low as citizens rushed to the safety of the US dollar amid speculation an announcement from the central bank on the fate of the local unit is imminent. The Zimbabwe dollar traded at 22,476 against the greenback, taking its losses this year to 73%, the world’s second-worst performance only after the Lebanese pound. The South African nation’s unstable currency, risks sending the nation back into hyperinflation 15 years after its old local dollar had to be abandoned.