Zimbabwe to print own version of US dollar bill
The governor of Zimbabwe’s central bank said it will begin issuing its own version of the US dollar bill. The cash-strapped country will start using the bond notes in October, and expects $75 million to be in circulation by the end of the year.
Zimbabwe is a multicurrency country since it stopped printing its own money, the Zimbabwe dollar, in 2009 due to hyperinflation. It uses the South African rand, the euro, and the Chinese yuan, alongside the US dollar.
The central bank governor, John Mangudya, said the cash, known as bond notes, will be backed by $200 million support from the Africa Export-Import Bank. – READ MORE