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Economics

Zimbabwe's devaluing of its currency

Zimbabwe devalued its currency in mid-2006 essentially turning a $20,000 Zimbabwe bill into a $20 bill. People were permitted only 3 weeks to turn in their old currency for new notes, individuals were limited to $150 a day, and companies were restricted to $7,000. Who do you think were the losers from this devaluation, especially considering its limited turn-in period for the old currency?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9204732

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