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In Zimbabwe there are nine official currencies, amongst others the euro and the US dollar

In 2008, Zimbabwe, in the Southeastern part of Africa, made international headlines due to financial problems and hyperinflation. The devaluation of the Zimbabwean dollar at the peak of the crises had the effect that there was even handed out a banknote amounting to 100 trillion (100.000.000.000.000) Zimbabwean dollars! After several rescue attempts had been ineffective, the government decided that they had to abolish their own currency.

Since April 2009, the Zimbabwean dollar is no longer in active use after it was officially suspended by the government due to hyperinflation. The United States dollar (US$), South African rand (R), Botswana pula (P), Pound sterling (£), Euro (€), Indian rupees (INR), Australian dollars (A$), Chinese yuan (元/¥), and Japanese yen (¥) are now used instead. The United States dollar has been adopted as the official currency for all government transactions. In everyday life, however, this often causes problems since not everybody knows all of the current exchange rates and the danger of counterfeiting increases.

Credits

Source(s): Wikipedia, BBC
Photo: Reserve Bank of Zimbabwe

Fact originally released on Saturday 27th of December 2014.

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