Central Banking

Greenback now worth a million Zimbabwean dollars

A single US dollar is now said to be worth 1 million of its Zimbabwean counterparts on the black market.

In an interview with the Associated Press, a Zimbabwean currency dealer said: "People are asking for a million and getting it in big bank to bank transfers. Cash for cash is anything above 750,000 to one."

The dealer added that people with foreign exchange wanted to keep hold of it to hedge against inflation.

The official exchange rate is Z$30,000 to $1.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.