According to Zimbabwe's Minister of Economy Elton Mangoma, the Zimbabwean dollar will not be accepted for payment for a year, as 'its value is backed by nothing.'
In January 2009, record-breaking global inflation in Zimbabwe forced state authorities to take an unprecedented step - officially allow the circulation of foreign currencies on the country's territory. These included the Botswana pula, South African rand, US dollar, euro, and British pound. As a result, the national currency became simply unneeded.
According to the latest available data, prices in the country were growing by 231 million percent per year. Since mid-2008, the Zimbabwean government has not provided information on inflation rates in the country.
Over the past two years, the Zimbabwean central bank has cut 22 zeros from the national currency. As reported by Lenta.ru, the highest denomination now is the 10-trillion banknote, but even that is not enough to buy a loaf of bread.