Zimbabwe has put an end to multiple foreign currencies to reign in the black market currency trade and the rising inflation. In 2009 the Zimbabwe dollar was thrown out when the exchange rate was Z$35 quadrillion to $1.
The Finance and Economic Development Minister Mthuli Ncube announced the ban on Monday. But payment for international airline services in foreign currencies will still be allowed.
Earlier this year they created plans for a new Zimbabwean dollar by introducing an interim currency the Real Time Gross Settlement Dollar (RTGS) or “Zollar.” But since its launch this year, the RTGS has struggled and its value declined sharply against the US dollar.
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