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ZIMBABWE/CURRENCYBack
[Published: Thursday January 29 2009]

Zimbabwe abandons currency

Harare, 29 Jan-(ANA)-Zimbabweans will be allowed to conduct business in other currencies, alongside the Zimbabwe dollar, in an effort to stem the country's runaway inflation.

The announcement was made by acting Finance Minister Patrick Chinamasa.

Correspondents say the Zimbabwean dollar has become a laughing stock. A Z$100 trillion note was recently introduced.

Until now only licensed businesses could accept foreign currencies, although it was common practice.

Mr Chinamasa made the announcement as he delivered the budget to parliament.

"In line with the prevailing practices by the general public, government is therefore allowing the use of multiple foreign currencies for business transactions alongside the Zimbabwean dollar," he said. (ANA)

FA/ANA/29 January 2009---

 

 


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