WORTHLESS: Zimbabwean Dollar
In a dramatic — though hardly unexpected — move, Zimbabwe’s government has stopped the trade and circulation of its domestic currency, the dollar.
Citing a lack of treasury resources to back their national notes, Zimbabwe will now rely on foreign currency for hand-to-hand monetary transactions. Indeed, foreign currency has been circulating officially throughout the country since January.
The move — while providing tangible proof of Zimbabwe’s failed-state status — is being criticized as another blow to the poor, who lacking foreign notes, will have even less access to basic goods and services.