New Zaire


Also found in: Acronyms.

New Zaire

The former currency of Zaire. The new zaire was the currency of Zaire between 1993 and 1997. It replaced the first zaire because of the older currency's persistently high inflation. It was replaced by the Congolese franc in 1997 when Zaire became the Democratic Republic of the Congo.
References in periodicals archive ?
In Goma, the dollar rate in March was 90,000 New Zaires (NZ), against NZ 75,000 in the upper Zaire mining areas (where there is an influx of dollars to purchase gold from wildcat diggers) and over NZ 170,000 in Kinshasa.
People also began buying new zaires in the street at double the official rate.
Although the economic climate is showing signs of improvement, inflation is still soaring, with the dollar rate rising from 4000 New Zaires to 5,000 New Zaires.

Full browser ?