Denford Magora's Latest Zimbabwe News Blog

As you can see, the Zimbabwe dollar is still in use, despite the announcement of its death by Tendai Biti, the Zimbabwe Finance Minister. What you see above are $100 billion notes (or Bearer Cheques, since the Reserve Bank didn't have any paper on which to print proper money after Germany confiscated its last consignment of new notes and paper!). The 100 billion dollar notes are bunched together (ten in a bunch) to make Z$1 trillion and those boarding Commuter buses get Z$3 trillion in change if they hand over one US dollar. It basically means that the market and the public have decided that each US dollar is equivalent to 6 trillion Zimbabwe dollars. No one quibbles about this arrangement and the conductors on these buses readily accept the Zimbabwe dollars as fares, knowing that they will simply pass them on to other passengers as change. Banks in Zimbabwe do not even accept Zimbabwe dollar deposits anymore and the currency has officially been relegated to the last place on the b...

Death to The Zimbabwe Dollar! Elton Mangoma, minister of Economic Planning from the MDC, announced on Sunday that the Zimbabwe dollar (such as the FIFTY BILLION DOLLAR NOTE pictured here)  has been "suspended" for a year. A lot of commuters are going to be mad as hell, because they had been using these to board commuter omnibuses. But in confirms the timeline I gave in December in my article, Zimbabwe Approaches South Africa to Officially Use The Rand So, you woke up on Sunday morning to hear that what I revealed to you here in my article in December last year (Zimbabwe Approaches South Africa To Officially Use The Rand) has been proved correct. Yet again. As I explained it back then, Gono had met with Mboweni to discuss the adoption of the Rand and the conditions laid down by the South Africans were daunting. Zimbabwe, I told you back then, was required to suspend its own currency for at least six months. (They have done better, with Elton Mangoma, the minister of economic p...