Zimbabwe's disappearing dollar

Faith in the Zimbabwe dollar has withered in rural areas where the local currency is being sidelined in favour of foreign exchange and barter trade.

21 Jan 2008

Analysts say consumers are avoiding the currency since a world record-breaking inflation rate - now officially at 8,000 percent but unofficially estimated at 25,000 percent - has made holding Zimbabwean cash pointless.

"Because of the ever deteriorating economy, villages are now awash with money from beyond our borders,” Innocent Makwiramiti, an economist and former chief executive officer of the Zimbabwe National Chamber of Commerce, told IRIN.

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