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U.S. Dollar the De Facto Zimbabwean Currency as Economy Struggles

The U.S. dollar has been spontaneously adopted by the country's producers and retailers, according to the Zimbabwe Independent. This comes after the economy went into meltdown in recent weeks with prices of basic commodities reaching new highs due to rampant inflation. Finance Minister Mthuli Ncube Ncube argued that Zimbabwe could not adopt the U.S. dollar because some banks refused to supply the country with the Greenback over fear of reprisals by the U.S. government.

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U.S. dollars (file photo).

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