Zimbabweans are now trading in litres, the dollar is now useless. Coupons have become are now the new currency, reflecting the rapidly falling value of the Zimbabwean dollar.
In a move which reflect the chaos in the country’s financial sector, Zimbabweans have now turned to a new money source….fuel coupons. Prices are openly quoted in American dollars even though the country introduced new smaller denomination banks notes last week, a move which saw coins return to circulation after being abandoned a long time ago.
Auctioneers Hammer and Tongues announced the first auction by barter to be held on Friday. At least barter selling provides something that holds value!
Cars and other goods will be up for bids payable in fuel coupons instead of hard currency and the government has said the system is legal.
“Homegrown solutions for Zimbabweans. Now we are selling in litres not in dollars,” said Hammer and Tongues.
Bidders must put down a deposit of 1000 litres of fuel coupons, worth about US$1500.00 and pay the rest in coupons when they pick up their purchases.
Things are indeed falling apart in Zimbabwe. Robert Mugabe and his government have managed to destroy a once prosperous country and now we are going back to the stone age days. Is it time to say enough is enough?
Have your say by posting your comments.
Related posts:
- More problems for Zimbabweans as the dollar falls against major currencies
- Was the 49th edition of the Zimbabwe International Trade Fair a success?
- Zimbabwe dollar exchange rate rising again
- Reserve Bank floats Zimbabwe Dollar on forex market
- Should Zimbabweans living outside the country be allowed to vote?