Zimbabwe’s central bank is circulating special coins as the Christmas festivities approaches.<\/p>\n
The Governor of the central bank has however clarified that the government has no intentions of re-introducing the Zimbabwean dollar which was abandoned in 2009 following hyperinflation.<\/p>\n
Annual inflation in 2008 reached 231m% and the highest denomination was a $100 trillion Zimbabwean dollar note.<\/p>\n
This caused prices to change by the hour while some schools and hospitals closed.<\/p>\n
The country subsequently adopted the US dollar and South African rand.<\/p>\n
The issuance of the special coins was necessitated by the shortage of coins in the system which according to financial analysts was causing increased prices of goods and services.<\/p>\n
This is because prices are often rounded up to prevent the issuance of coins as change for customers following its shortage.<\/p>\n
Zimbabwe’s central bank Governor, John Mangudya is optimistic that the special coins will result in the correction of prices on the market to save the country\u2019s economy.<\/p>\n
The new coins are pegged to the US Dollar.<\/p>\n
<\/p>\n
By: citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"
Zimbabwe’s central bank is circulating special coins as the Christmas festivities approaches. The Governor of the central bank has however clarified that the government has no intentions of re-introducing the Zimbabwean dollar which was abandoned in 2009 following hyperinflation. Annual inflation in 2008 reached 231m% and the highest denomination was a $100 trillion Zimbabwean dollar […]<\/p>\n","protected":false},"author":5,"featured_media":76063,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[],"tags":[14,4],"class_list":["post-76062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-papa-owusu-ankomah","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/76062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=76062"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/76062\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/76063"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=76062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=76062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=76062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}