The government of Zimbabwe has announced that the Chinese yuan will become legal tender for public transactions in the southern African nation.

Chinese yuan.

Chinese yuan. Image by Karl Baron / CC BY 2.0

Zimbabwe abandoned its own dollar in 2009 after rampant hyperinflation, which had peaked at around 500bn%, rendered its future unfeasible. Since then a slew of foreign currencies have been given official approval for use, including the US dollar and the South African rand. Read more: