Comments on: Zimbabwe Exchange Rate £1 to ZW$600 000

By: Innocent M

Innocent M — Wed, 02 Jul 2008 20:28:00 +0000

I suggest Zimbabwe should abandon the Zim-dollar completely and adopt a stable foreign currency[ dollarisation] as a legal tender eg the US$.Everyone has lost confidence in the Zim$ .The rate is now increasing by nearly ten billion everyday against major currencies

With the highest inflation in the world ,most businesses are now charging in forex.Nearly everyone in Zimbabwe is using rands,US$,£ OR Pulas.It is better for the governmen to make the use of forex legal in Zimbabwe and to abandon completely the Zimbabwean dollar since no one has faith in it.I will expain the advantages of dollarisation below.

The chief advantage to dollarization is that rampant inflation will be dramatically stabilized. This will, in turn, stabilize the overall economy, sustain the buying power of the Zimbabwean people, and allow the nation as a whole to experience significant economic growth. Long-term economic planning will be easier to do under a stable currency, and the hope is that the dollar will attract foreign investors who were previously reluctant to invest in Zimbabwe due to its economic and monetary weaknesses.

However,although, there is also a downside to dollarization,I believe this is a good strategy to take for one or two years ,until things stabilise

By: Anonymous

Anonymous — Sun, 08 Jun 2008 11:05:00 +0000

Ohh wants old mate GETS THE HELL OUT, we shall be all good. Everyone just stands by and watches whilst people are dying and his living in that mansion of a home. I remember when we could go to Select get jolly lollies and slush puppies for less then $10, the slush puppy machines still have the old price.

However there are a few good men in the Zimbabwe Rails, I was protected by the security on the train whilst "The Army beat up a MDC supporter, my heart goes out to him, I was travelling over there during the March 29 elections. Whilst being the only one of color on the train.

Whilst driving through the beautiful land of Zimbabwe, we seen almost all the people on the highways with MDC support signs; even a few ZRP police officers.
May god bless all the ones who are getting tortured, killed and hurt.

By: KOGY

KOGY — Tue, 20 May 2008 22:21:00 +0000

Thanks for the bit of history Charles…. I jsut hope Mugabe is not trying to get into the history books for the wrong reasons.

It’s so sad, and it makes me angry how people are suffering in Zimbabwe.

By: charles000

charles000 — Tue, 20 May 2008 20:39:00 +0000

Jerri, look at the bright side – in post WWII Hungary, there was the 100 quintillion Pento note. I am not making this up. And, speaking of Europe in its more challenging moments, in post WWI Germany there was the billion mark coin – a coin!

OK, and not to be left out, was the famous 500 billion Dinar note, that was the new “revised” currency for Hungary . . .

So, it’s all relative. All joking aside, the circumstance in Zimbabwe is heartbreaking, but not hopeless. There is potential there, great potential. What is lacking is real leadership.

By: KOGY

KOGY — Wed, 09 Apr 2008 12:19:00 +0000

Yes, Clement Zimbabwe has got great infrastructure but the problem is the current government is not doing anything to stop the distraction of the infrastructure.

We can’t wait for the end of this current regime’s time other wise it will be too late and very costly to rebuild the country

By: Clement Nthambazale Nyirenda.

Clement Nthambazale Nyirenda. — Fri, 28 Mar 2008 15:41:00 +0000

But I am of the view that Zimbabwe will bounce back resoundingly. Zimbabwe, unlike most African countries, has the infrastructure in place.Once the political games of one Robert Mugabe are over, Zim will be on the rise.

Clement Nyirenda's blog world

By: KOGY

KOGY — Thu, 13 Mar 2008 23:37:00 +0000

That’s true Gerri, it’s not going to be easy to get back to those old days. The currency is now on freefall.
Makes me wonder what the future is like for us. I thought I would be here just for two years, but it looks like I will be here even longer.
Hopefully the problems will come to pass.

By: Gerri

Gerri — Thu, 13 Mar 2008 00:16:00 +0000

Don’t do that to me man!! Just looking at that note reminds me of the times when that $2 note would go a long way. We were the ones laughing at our neighbours and their currencies now we are the laughing stock of the world when it comes to currency. How exchange rates can be in the millions is beyond me. Right now I am asking myself if it can get any worse and in the back of my mind my answer is ‘I don’t think so’ but I have been here so many time because it just keeps on going up and up. What can be done to stop it? I don’t know but it will take A LOT to get it back to where it once was.