Zimbabwe's Nine Legal Tender Currencies
After the disastrous hyperinflation of recent years, the old Zimbabwean currency was abolished in 2009. Now there are nine different currencies accepted as legal tender on the streets. Will the Chinese currency take hold as an accepted reserve currency in competition with the US dollar? There is a demand and liquidity crunch in the country with prices now falling and the absence of a local currency that might be used as part of monetary policy.