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Can I Buy Zimbabwe?
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eduu
#11 Posted : Thursday, January 31, 2013 11:24:20 PM
Rank: Member

Joined: 5/29/2009
Posts: 351
Could it be that our RAO told his pal Morgan to give him a helping hand in the election, hence the story
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Swenani
#12 Posted : Monday, February 17, 2014 2:41:04 PM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
Zimbabwe now has nine of the world's major currencies to trade as legal tender. The Chinese yuan, Japanese yen, Indian rupee and Australian dollar were officially to the basket of currencies that are accepted as legal tender. According to the acting Central Bank Governor Charity Dhliwayo, this was done to boost trade and investment ties between Zimbabwe and China, India, Japan and Australia. Ms Dhliwayo said individuals and businesses can now open bank accounts denominated in the four new currencies, in addition to Botswana pula, British pound, South African rand, and the US dollar. For the dominating currency, market analysts put their bet on the US dollar, which most Zimbabweans have been using since 2009. MULTI-CURRENCY REGIME The southern Africa nation abandoned its currency in 2009 after hyperinflation rendered it worthless and has since adopted the multi-currency regime. Four years on, prices across the country are almost all denominated in the greenback with rand and pula being used as changes smaller than a dollar. The pound and euro, however, are rarely seen. The Chinese yuan is a likely challenger to the greenback as trade and economic interaction grow. Ms Dhliwayo confirmed that the government, led by veteran President Robert Mugabe, had made it clear that the widespread "speculated" re-introduction of the Zimbabwean dollar can be "put to rest." SEVERE LIQUIDITY CRUNCH However, John Robertson, an independent economic analyst, said the four new currencies would likely to meet the same fate as the pound and euro. He also refuted that the move would solve the severe liquidity crunch the country faces. "The additional currencies that can now be officially used in Zimbabwe will not make the slightest difference to anything," Robertson said. "We price our exports in US dollars, we price our imports in either US dollars or rand and the additional currencies on the list won't affect the quantities of money flowing either way," he said. Banks such as BancABC and Stanbic have already launched the yuan services while Standard Chartered and Barclays say they are yet to receive the directive from the Central Bank.
If Obiero did it, Who Am I?
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Angelica _ann
#13 Posted : Monday, February 17, 2014 3:16:08 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,937
Comrade Bob the African hero! smile
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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