Zimbabwe allows use of foreign currency

According to a BBC News report dated 29 January 2009, while delivering the annual budget to parliament, acting Finance Minister Patrick Chinamasa announced, “In line with the prevailing practices by the general public, [the] government is therefore allowing the use of multiple foreign currencies for business transactions alongside the Zimbabwean dollar.” Previously only licensed businesses could accept foreign currencies, although it was common practice in the black market. Although it is not clear if the local currency will still be printed, it’s possible that this move marks the end of an era for Zimbabwe.

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