HARARE, Zimbabwe – Coins introduced by Zimbabwe's Reserve Bank earlier this month are receiving a cold reception from locals who are fearful they could be the first step to reinstating the ruined Zimbabwean dollar.
Zimbabwe has not used its own currency since 2009 when it adopted the U.S dollar and the South African rand. The Zimbabwean dollar collapsed under record 231 million percent inflation, which forced the Reserve Bank to print $10 trillion notes in a desperate attempt to save what was once one of Africa's strongest economies.
This month, the Reserve Bank introduced special Zimbabwean currency in one, five, 10 and 25 cent coins. The value has been secured against a $50 million bond to reassure Zimbabweans. But many shoppers are avoiding the new coins, saying they would prefer candies.