“Conversation with RBZ (Reserve Bank of Zimbabwe)” by KT Simmons – 4.22.21

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Entry Submitted by KT Simmons at 12:55 AM EDT on April 22, 2021

Hi all,

My associates and I had an interesting conversation with representatives of RBZ over a zoom call regarding a project my team is working on with a few companies in Zimbabwe. During the break we had the pleasure to ask them about the Zims and what is the actual value of it now. 200quads for 5usd is their offer its no longer considered legal tender. From what i heard they are buying it only for the paper the note is printed on. They can reuse it to print the current RTGS dollar(current legal tender of Zimbabwe). Whoever who paid alot more to buy it must really be crying right now.

Regarding the possibility of reusing the zims and revaluation, we were given an hour lecture of why that is impossible. They also sighted kuwaiti dinar as an example and if you really look into it they did not revalue. They merely accepted the old tender and gave new ones.. 1000s to 1. So assuming zims will become legal tender again one day and if 1 new zim = 1 usd they will take your 100 trillion note and give you 1 zim which is = 1 usd. And not 100 trillion zims = 100 trillion usd. Thats what kuwait did.

Think again on the social economic and global impact if any country’s currency is suddenly worth 1000x more than what it is right now. Its just not possible at all. If everything stops at tier4 maybe it still possible but not for tier5 public.

Have a thought. Happy for anyone to state otherwise.

KT Simmons

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