Zimbabwe abandons its currency
The announcement was made by acting Finance Minister Patrick Chinamasa.
BBC southern Africa correspondent Peter Biles says the Zimbabwean dollar has become a laughing stock. A Z$100 trillion note was recently introduced.
Until now only licensed businesses could accept foreign currencies, although it was common practice.
The country is also facing a deepening humanitarian crisis as well.
A cholera outbreak has killed over 3,000 people according to the World Health Organization (WHO).
And the World Food Programme (WFP) has revised up the number of people it says need food aid.
50 billion dollar Zimbabwean bank note
Our people are now using multiple currencies alongside the Zimbabwean dollar
It now says seven million Zimbabweans are in need of food aid, up from 5.1 million in June.
WFP regional spokesman Richard Lee said the situation had deteriorated rapidly.
“The economic situation has worsened more dramatically than we had anticipated,” he told AFP.
“The agency is being forced to halve the cereal rations given to hungry Zimbabweans so that all the people in need can receive aid.”