Zimbabwe declares its currency dead

Zimbabwe declares its currency dead
Commodity Online, 21 April 2009 11:22:33

PRETORIA : Super inflated Zimbabwe declared its currency, the Zimbabwean dollar a dead one and is no longer being printed.

Speaking to reporters here Zimbabwe’s Economic Planning Minister Elton Mangoma said the currency could be returned as a different currency or as notes once inflation was under control.

He said officially the rand was the most favored currency for trade while the US dollar, the Botswana pula and British pound were also allowed.

Mangoma said the role of the Reserve Bank of Zimbabwe and the powers of its governor have been reviewed and considerably reduced so that they no longer determine and pioneer economic policies and direction.