Zimbabwe issues new currency

With hyperinflation in Zimbabwe, the Reserve Bank of Zimbabwe was forced to devalue the Zimbabwe dollar. Three zeros are being cut off the country’s banknotes, and August 21st was the last day to turn in the old currency. Many problems arose as people could only cash in 5 billion Zimbabwe dollars (~$200 value). The rest of the money was confiscated. Because of this, the past week citizens went on a spending spree buying anything of tangible value. Fuel prices doubled. For more information, take a look at the article below.

http://www.isn.ethz.ch/news/sw/details.cfm?ID=16561