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ZIM - Deletion of Zeros
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ZIM - Deletion of Zeros
To put an end to 3, 6, 9 zeros being deleted from the old zim. To put an end to people already exchanging with a few zeros deleted. To put an end to all the guru and intel providers, including ADMINBILL, from telling you lies, please read below. Can you say 12 zeros??
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HARARE, Zimbabwe (CNN) -- Zimbabwe slashed 12 zeros from its currency as hyperinflation continued to erode its value, the country's central bank announced Monday.
Patrick Chinamasa, Zimbabwe's acting finance minister, arrives last week at Parliament to present the '09 budget.
"Even in the face of current economic and political challenges confronting the economy, the Zimbabwe dollar ought to and must remain the nation's currency, so as to safeguard our national identity and sovereignty. ... Our national currency is a fundamental economic pillar of our sovereignty," said Gideon Gono, governor of the Reserve Bank of Zimbabwe.
"Accordingly, therefore, this monetary policy statement unveils yet another necessary program of revaluing our local currency, through the removal of 12 zeros with immediate effect."
The move means that 1 trillion in Zimbabwe dollars now will be equivalent to one Zimbabwe dollar.
The old notes -- with the highest being 100 trillion dollars -- not enough to buy a loaf of bread -- will remain valid until June 30, after which they will cease to be legal tender. One U.S. dollar is trading above 300 trillion Zimbabwe dollars.
This third attempt to lop off zeros comes barely six months after the Zimbabwe government last adjusted its currency as it continues to lose value.
World-record inflation estimated to be in the billions of percent -- but officially at 231 million percent as of July last year -- has quickly eroded the currency's value again and again. The highest note on the new set is 500 Zimbabwe dollars.
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HARARE, Zimbabwe (CNN) -- Zimbabwe slashed 12 zeros from its currency as hyperinflation continued to erode its value, the country's central bank announced Monday.
Patrick Chinamasa, Zimbabwe's acting finance minister, arrives last week at Parliament to present the '09 budget.
"Even in the face of current economic and political challenges confronting the economy, the Zimbabwe dollar ought to and must remain the nation's currency, so as to safeguard our national identity and sovereignty. ... Our national currency is a fundamental economic pillar of our sovereignty," said Gideon Gono, governor of the Reserve Bank of Zimbabwe.
"Accordingly, therefore, this monetary policy statement unveils yet another necessary program of revaluing our local currency, through the removal of 12 zeros with immediate effect."
The move means that 1 trillion in Zimbabwe dollars now will be equivalent to one Zimbabwe dollar.
The old notes -- with the highest being 100 trillion dollars -- not enough to buy a loaf of bread -- will remain valid until June 30, after which they will cease to be legal tender. One U.S. dollar is trading above 300 trillion Zimbabwe dollars.
This third attempt to lop off zeros comes barely six months after the Zimbabwe government last adjusted its currency as it continues to lose value.
World-record inflation estimated to be in the billions of percent -- but officially at 231 million percent as of July last year -- has quickly eroded the currency's value again and again. The highest note on the new set is 500 Zimbabwe dollars.
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Scotchie- VIP Member
- Posts : 1534
Join date : 2017-04-15
Re: ZIM - Deletion of Zeros
This was in 2009 so the zim was junked 6 30 2009 so Admin bill needs baned from anu posting anywhere
Harold4187- Active Member
- Posts : 95
Join date : 2011-07-14
Harold
From what I have read, the old zim was completely finished, done, over-and-out mid 2015. There was no action, in any way, after that date. The old zim is nothing more than a novelty.
Scotchie- VIP Member
- Posts : 1534
Join date : 2017-04-15
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