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World Briefing / Zimbabwe

Use of foreign currency widened

February 19, 2009|Times Wire Reports

Zimbabwe tried to combat the world's highest inflation by widening the use of foreign currency. Finance Minister Tendai Biti said about 130,000 soldiers, teachers, civil servants and other government workers would be paid in U.S. dollars instead of Zimbabwean dollars.

Biti also scrapped licenses required for shops doing business in foreign currency, which will allow more merchants to legally trade in U.S. dollars and South African rand.

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