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Zero slashing time in Zimbabwe

The Reserve Bank of Zimbabwe has announced that it will be slashing 10 zeros from the country's currency after record runaway inflation has caused prices of basic goods like bread to cost over $150 billion dollars.

Two years ago, the Gideon Gono, the Reserver Bank Governor cut three zeros but the problems that caused that inflation have never been resolved and so since then the situation has become worse and worse.

Early this month a $100 billion note was was introduced and this could not buy a loaf of bread at the time of its introduction and so its not surprising that this time they have now gone to cut off a whooping ten zeros.

That $100 billion note will now be worth $100 dollars and the highest note will now be $500.

What I find surprising is the fact that they want to re-introduce coins. I think these coins will be worthless very soon and nobody will be using them in a few months time because the problems causing the inflation have not been resolved and therefore inflation will remain high still.

So Zimbabweans have just come from being billionaires to nothing overnight and I think this zero slashing exercise should be done often to protect people from such high numbers like trillions to buy basic stuff or to pay for bus fare.

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