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 Zim Currency vs. Zim Bonds: Earning Interest off your Redemption 3/30/19 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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Zim Currency vs. Zim Bonds: Earning Interest off your Redemption 3/30/19

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Post by Ssmith on Sun Mar 31, 2019 9:10 am

By Judy Byington

It would be safe to say that no one held Zim Currency to exchange because the Zim Note in digital form with an assigned rate of around $3 to 1 USN, would not be introduced until April 1.

The value of your Zim Bonds was not yet known, though it was said that you could ask for whatever rate you needed to do your humanitarian project.

It was my understanding that the proceeds from Zim Bond redemption must be dedicated to humanitarian work, while the earned interest from your Zim redemption held at the bank during your payout period could be used for whatever you wished.

The interest rate you received would be based on how much Zim you redeemed and how long you agreed for your payout period (the more Zim you had and the longer the payout period you agreed to, the higher interest rate you would likely receive).

While your redemption monies were not taxable, your earned interest off those monies would be taxable - unless you decided to invest your earned interest into Zimbabwe or other approved nonprofit humanitarian projects. The earned interest from monies dedicated to Zimbabwe humanitarian was said to be 7% and would be tax free.

Information about Zimbabwe and other humanitarian projects you could invest in would be available at your redemption appointment.

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