In 2009, Zimbabwe essentially gave up on its existing currency, inasmuch as even the highest denominations were worth more as toilet paper than as an actual medium of exchange. And I don’t think any of us were quite visionary enough to ship those bills to Venezuela.
To replace that failed dollar, Zimbabwe came up with the idea of officially recognizing certain stable foreign currencies. Among them: the US dollar. Now where do you get US dollars in Zimbabwe? They’ll be printed in Zimbabwe:
Zimbabwe is set to print its own version of the US dollar in order to ease a cash shortage in the country.
Central bank governor John Mangudya said the cash, known as bond notes, will be backed by $200m (£140m) support from the Africa Export-Import Bank.
The specially-designed two, five, 10 and 20 dollar notes will have the same value as their US dollar equivalents.
Except the $20 probably won’t have Andrew Jackson on it.
(Via Fark, which thought of the Jackson joke before I did.)