Zimbabwe Currency Crisis - the Rand and Long History of Trade With South Africa

AS Zimbabwe goes through a deep liquidity crisis, sparking a new series of economic and currency problems against a background of 2008's record hyperinflation, raging debate on these issues has gone on full throttle since last week's monetary policy measures by the Reserve Bank governor John Mangudya to contain the situation.

Against the backdrop of the renewed currency debate, there are now growing calls for the full adoption of the South African Rand as the only legal tender in Zimbabwe to replace the multi-currency system, which has in its basket nine currencies including the United States dollar, rand, euro, the British pound, Chinese yuan, pula, Australian dollar, Indian rupee and Japanese yen.

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