After the hyperinflation caused in 2009, Zimbabwe lost the vale for its own currency and since then it has been using foreign currency to carry on day to day traditions, mainly US dollar. People had to buy everything from abroad right from bottle of water which lead to constant flow of money out of the country.
Country’s Central banks recently made an announcement of introducing bond notes by the end of October. It expects $75 million worth of these notes to be in use by the end of the year. Bond notes will be in the denomination of 2, 5, 10 and 20 $.
The collapse of Zimbabwe’s economy has meant people have to buy almost everything from bottled water to toothpicks from abroad, and that means cash is constantly pouring out of the country.
Zimbabweans have been demonstrating against their introduction, fearing they might mean a return to the local currency, though the central bank has rejected that idea.###
