Zimbabwe’s currency, the Zimbabwean dollar, is undergoing super-hyperinflation. It is not on its last legs, its kaput, its collapsed, its down and out. Zimbabweans will have to exchange quadrillions of local dollars to gain a few US dollars next week.
What would you do? There are various options that Zimbabwe might go in. Create a new fiat currency
- Create a new fiat currency
- Adopt the US Dollar
- Adopt Bitcoin
- Create their own digital currency
If they create a new fiat currency then who in the global market would accept it? How long would it take to create, and get accepted into the global financial market? With the fear of how they destroyed their previous fiat currency so fresh in the thoughts of the market would they even be able to trade internationally?
Adopt the US dollar is an option. The world’s reserve currency, already accepted in most places. And currently it seems that this option is what their country is guiding