Chinese yuan to become legal tender in Zimbabwe

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

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: theguardian.com