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Zimbabwe's Currency Crackdown Spurs Wider Use of US Dollars – Bloomberg

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Bundles of Zimbabwean banknotes and a box of coins in Bindura, Zimbabwe. 

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A crackdown by authorities in Zimbabwe to support the local currency and fight inflation has increased the use of US dollars in the economy, according to the country’s oldest brokerage.
“Ironically the authorities’ clampdown on Zimbabwe dollar payments created such a squeeze that it has had the unintended consequence of driving dollarization at a faster pace,” Imara Asset Management Chief Executive Officer John Legat said in the Harare-based company’s latest quarterly investment notes to clients. 


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