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Go to main page   News   Zimbabwe switches to greenbacks as local currency chalks up the 0’s   Comments  
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23.10.2008, 09:08

Market up 257% and growing… in Zimbabwe

The Zimbabwe Stock Exchange seemingly takes no orders from the global financial crisis. The market has shown record growth of more than 250 percent a day – but Wall Street traders are unlikely to flock to Johannesburg.

Zimbabwe switches to greenbacks as local currency chalks up the 0’s

Published: 11 September, 2008, 11:07


Galloping inflation has forced the Zimbabwean Government to accept foreign currencies as legal tender. It is hoping the move will reduce the role of the black market and bring some relief to Government’s own depleted coffers.

 
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