Reevaluation of the Zim Dollar
Aug 4th, 2006, 10:40 AM
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Reevaluation of the Zim Dollar
Anyone going to Zimbabwe in the next couple of weeks, take note:
Re-evaluation of the Zimbabwean Dollar as a measure to attempt to curb inflation in the country
On Monday, the Zimbabwe Reserve Bank announced the immediate re-evaluation of the Zimbabwean Dollar. In effect, the Reserve Bank dropped "3 x zero’s” from the currency effective Tuesday, 01 August 2006. Thus what was ZIM$1000 on Monday, overnight became ZIM$1 on Tuesday. In real terms, if one paid ZIM$1000 for a cup of coffee on Monday, on Tuesday this same cup of coffee cost ZIM$1.
Coins do not have any value, and existing notes and bearer cheques will only be valid for 21 days. After this 21 day period, only the new notes will be considered legal tender.
For the next 21 days, most hotels are not accepting credit cards (due to the risk for the client - we are not quite sure what the client will pay when he gets his credit card bill back home). The Reserve Bank has not answered these questions, so it is essential to deal in cash only until further notice.
We urge any passengers travelling this month to take foreign currency only (USD, EUR, GBP or ZAR) in small denominations if travelling to Zimbabwe. We suggest small denominations as any change will be given to the clients in ZIM$ - new or old? at this stage, we do not know).
NO international client is permitted to carry ZIM$’s into Zimbabwe, and during this change over process, law enforcement agents will be conducting checks at all points of entry into the country, and there will also be check points throughout the country. All check points will be manned by officers in uniforms who will positively identify themselves upon request. Clients in the country must be able to produce a receipt for any ZIM$’s in their possession).
Re-evaluation of the Zimbabwean Dollar as a measure to attempt to curb inflation in the country
On Monday, the Zimbabwe Reserve Bank announced the immediate re-evaluation of the Zimbabwean Dollar. In effect, the Reserve Bank dropped "3 x zero’s” from the currency effective Tuesday, 01 August 2006. Thus what was ZIM$1000 on Monday, overnight became ZIM$1 on Tuesday. In real terms, if one paid ZIM$1000 for a cup of coffee on Monday, on Tuesday this same cup of coffee cost ZIM$1.
Coins do not have any value, and existing notes and bearer cheques will only be valid for 21 days. After this 21 day period, only the new notes will be considered legal tender.
For the next 21 days, most hotels are not accepting credit cards (due to the risk for the client - we are not quite sure what the client will pay when he gets his credit card bill back home). The Reserve Bank has not answered these questions, so it is essential to deal in cash only until further notice.
We urge any passengers travelling this month to take foreign currency only (USD, EUR, GBP or ZAR) in small denominations if travelling to Zimbabwe. We suggest small denominations as any change will be given to the clients in ZIM$ - new or old? at this stage, we do not know).
NO international client is permitted to carry ZIM$’s into Zimbabwe, and during this change over process, law enforcement agents will be conducting checks at all points of entry into the country, and there will also be check points throughout the country. All check points will be manned by officers in uniforms who will positively identify themselves upon request. Clients in the country must be able to produce a receipt for any ZIM$’s in their possession).
Aug 4th, 2006, 11:44 AM
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After I stopped laughing... the ZIM$ is still worthless. Shame!
The coins are nice to have, but they too are worthless! Shame, Shame!
Sounds like another level or corruption to me.
... and Mugabe is still there with all his zeros in some foreign bank! Shame, Shame, Shame!
The coins are nice to have, but they too are worthless! Shame, Shame!
Sounds like another level or corruption to me.
... and Mugabe is still there with all his zeros in some foreign bank! Shame, Shame, Shame!
Aug 4th, 2006, 06:15 PM
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I brought back a few $20,000 bills, gave one to my boss to let him know how much I appreciated him letting me go on vacation (I think it was worth 30cents US) I still keep one in my wallet for a conversation piece.
Aug 4th, 2006, 07:40 PM
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Hwange is probably the very most convenient well respected wildlife park to visit near Victoria Falls. While many first time traveleres to Southern Africa choose the Sabi Sand (or other Kruger area private reserve or KNP, itself) and Victoria Falls, a less expensive and less commercialized safari would be to combine Hwange NP and Victoria Falls.
No matter if a person chooses Makalolo Plains (Wilderness Safaris), Somalisa (African Bushcamps) or The Hide, the pricing is great and the wildlife experience is supposedly excellent.
Personally, I cannot wait to visit Hwange, Mana Pools, Lake Kariba and Malilangwe National Park, while also walking with the lions during my stay in Victoria Falls at the Stanley & Livingstone. Although I have visited the falls before (and at their full strength in early March), it will be very nice to return in late May (next year).
No matter if a person chooses Makalolo Plains (Wilderness Safaris), Somalisa (African Bushcamps) or The Hide, the pricing is great and the wildlife experience is supposedly excellent.
Personally, I cannot wait to visit Hwange, Mana Pools, Lake Kariba and Malilangwe National Park, while also walking with the lions during my stay in Victoria Falls at the Stanley & Livingstone. Although I have visited the falls before (and at their full strength in early March), it will be very nice to return in late May (next year).
Aug 5th, 2006, 05:31 AM
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CarlaM, I have Turkish 1,000,000 Lira bills (I visited Turkey in 1997, and they have since chopped the final three zeros from their currency). Taxi rides at that time were priced in the tens of millions, and my hotel was several hundred million lira per night.
Aug 5th, 2006, 07:44 AM
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Thit Cho,
Ahhh...Turkey...I just had flashbacks of my honeymoon which started out with 3 nights in Istanbul. I think I ended up paying a cabbie about $150 USD rather than the $15 USD as a result of all those zeros. I do give him credit, however, for having such a good poker face and accepting the money as if it were nothing out of the ordinary!
Ahhh...Turkey...I just had flashbacks of my honeymoon which started out with 3 nights in Istanbul. I think I ended up paying a cabbie about $150 USD rather than the $15 USD as a result of all those zeros. I do give him credit, however, for having such a good poker face and accepting the money as if it were nothing out of the ordinary!
Sep 1st, 2006, 04:20 PM
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I just returned from Zimbabwe, and had a lovely time...the police were very friendly when stopped you, to look through your vehicle and backback. The wild life is in great form in Huange, and there are very few tourists...saw wild dogs everyday, a Zorilla and plenty of Rhino were around. I stayed in a ok lodge for $30 USD, just outside the park....it is a great country and I plan on going often while it is still thought of as a hostile place by the rest of the world!
Sep 1st, 2006, 06:04 PM
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Dennis,
Not so fast...with Mateya, Kwando Lagoon, Kwando Lebala, Kwando Kwara and other Botswana destinations, I am confident that I am going to finally see wild dogs and that I will see more than you. I will not be the laughingstock of the wild dog kingdom any longer!
Also, as I mentioned to you earlier, I may just round out my November trip with 3 nights in Hwange, myself, even if I am scheduled to visit next May.
Not so fast...with Mateya, Kwando Lagoon, Kwando Lebala, Kwando Kwara and other Botswana destinations, I am confident that I am going to finally see wild dogs and that I will see more than you. I will not be the laughingstock of the wild dog kingdom any longer!
Also, as I mentioned to you earlier, I may just round out my November trip with 3 nights in Hwange, myself, even if I am scheduled to visit next May.
