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Zimbabwe Finance Minister: Cash Notes in Circulation Soon

Zimbabwe will issue new cash notes and coins to replace the quasi currency introduced three years. It was a failed attempt to counter a crippling shortage of cash, which increased inflation to the highest rate ever. 

The new Zimbabwe dollar, exchangeable outside the country’s border, will be backed by an undisclosed amount of foreign exchange reserves, gold, and loans.

It was informed that the Treasury would first compile data on the country’s reserves to understand how much of foreign currency would be needed to back the new currency.

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