Should i buy zimbabwe dollars

The release of this new note, stokes fears of hyperinflation reminiscent of the era. The denomination is too small, we needed something that is of value. You will need a whole load to buy something substantial. We have gone the wrong way. We should have gone for higher denominations.

Robertson called for policy changes to curb the rising cost of living and slow down inflation. Watch Live. Breaking News Close. News What can you buy with Zimbabwe's new 50 dollar banknote? You may also like. After losing their pensions and savings during a decade of hyperinflation to , Zimbabweans prefer using the greenback to their own currency. The government issued regulations on Friday making it mandatory to quote prices in the local currency, with payment in dollars offered as an option using the official rate.

This has seen prices of goods from groceries to building materials go up, and more so in U. Economists say government does not have absolute control of the situation, adding the value of the currency will depend on the value of reserves the central bank has, the fluidity of the interbank market, confidence levels in the local economy, debt levels, export and import parity current account position , inflation levels and general economic performance.

Zimbabwe is currently in recession, setting up the Zimbabwe dollar for failure yet again. Black market activities and runaway inflation will not be cooled by the new decree, Bhoroma added. Sign up to the Quartz Africa Weekly Brief here for news and analysis on African business, tech and innovation in your inbox. By providing your email, you agree to the Quartz Privacy Policy. Skip to navigation Skip to content. Discover Membership. Editions Quartz.