#MondayBlues: Zimbabwe Wastes Scarce Foreign Currency Printing Irrelevant Currency.

Zimbabwe in this highly inflationary environment has found it in its wisdom to print 60 tonnes of RTGS $10 and $20 notes, a highest denomination which is way below an average price of bread.

It does not take a professor to dictate that this currency in the next few months will not be worth of the paper its printed on as we are already in a hyper inflationary environment .

Financial experts have argued that a much more higher currency would have saved Zimbabweans and empowered them to acquire to basic commodities from the highest denomination, easing off pressure from the commercial banks .

“Printing lower denomination currency is only a self satisfying statement to project an image that Zimbabwe’s currency is strong yet the highest note printed to day can not buy a loaf of bread ” said an expert

This move however is feared to spiral inflation by many, but does not support the reasoning of printing money that we are not going to be using, yet we have already wasted the hard earned foreign currency.

Every currency that is introduced by a government must be done in posterity, so that the next generations may as well benefit, but this move seems to nothing much but a temporary move to ease pressure, just but for few weeks

Government last year printed millions of coins and two dollar notes which today are now irrelevant and useless as they have lost value to purchase even the smallest item in any market.

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