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Banks face fallout from currency change in Zimbabwe
Banks face fallout from currency change in Zimbabwe
<p>GENICHESK. TAVRIA. This week it was revealed that Zimbabwe will change the local currency. They will abandon Zimbabwe dollars and start using ZiG (Zimbabwe gold). The government hopes to stop the fall of the local currency by doing this.</p> <p>People are trying to convert currency as soon as possible, and because of this there are disruptions in the work of banks throughout the country. This is reported by <a href="https://www.bloomberg.com/news/articles/2024-04-06/zimbabwe-s-currency-banking-disrupted-ahead-of-zig-usd-zwl-launch?srnd=homepage-europe">Bloomberg</a>. Although the old currency is still used for electronic payments for essential goods in supermarkets and to pay utility bills.</p> <p>It is worth noting that this is not the first time Zimbabwe's financial system has undergone such drastic changes. In 2008, the country experienced hyperinflation, due to which the government decided to abandon the local currency and start using dollars.</p>
<p>GENICHESK. TAVRIA. This week it was revealed that Zimbabwe will change the local currency. They will abandon Zimbabwe dollars and start using ZiG (Zimbabwe gold). The government hopes to stop the fall of the local currency by doing this.</p> <p>People are trying to convert currency as soon as possible, and because of this there are disruptions in the work of banks throughout the country. This is reported by <a href="https://www.bloomberg.com/news/articles/2024-04-06/zimbabwe-s-currency-banking-disrupted-ahead-of-zig-usd-zwl-launch?srnd=homepage-europe">Bloomberg</a>. Although the old currency is still used for electronic payments for essential goods in supermarkets and to pay utility bills.</p> <p>It is worth noting that this is not the first time Zimbabwe's financial system has undergone such drastic changes. In 2008, the country experienced hyperinflation, due to which the government decided to abandon the local currency and start using dollars.</p>
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Banks face fallout from currency change in Zimbabwe

Banks face fallout from currency change in Zimbabwe

06.04.2024|Саша

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GENICHESK. TAVRIA. This week it was revealed that Zimbabwe will change the local currency. They will abandon Zimbabwe dollars and start using ZiG (Zimbabwe gold). The government hopes to stop the fall of the local currency by doing this.

People are trying to convert currency as soon as possible, and because of this there are disruptions in the work of banks throughout the country. This is reported by Bloomberg. Although the old currency is still used for electronic payments for essential goods in supermarkets and to pay utility bills.

It is worth noting that this is not the first time Zimbabwe's financial system has undergone such drastic changes. In 2008, the country experienced hyperinflation, due to which the government decided to abandon the local currency and start using dollars.


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