Zimbabwe Central Bank Abolishes Use of Foreign Currencies
This article is for subscribers only.
Zimbabwe’s central bank abolished the use of multiple currencies as it tries to curb black-market currency trade that’s contributed to surging inflation.
With immediate effect, the U.S. dollar, South African rand and other foreign currencies will no longer be recognized as legal tender in the southern African nation, the central bank said in an official notice Monday in the capital, Harare.