Zimbabwe devalues its currency

BBC:

Zimbabwe's central bank has said it will introduce a new currency on 1 August as part of efforts to fight the effects of hyperinflation.

The bank's governor, Gideon Gono, has announced zeros will be lopped off the Zimbabwe dollar, making 10bn dollars one dollar.

Only last week, the government introduced the Z$100bn note.

...

I think this was necessary because too many people were getting dizzy trying to keep up with the zeroes.

Comments

Popular posts from this blog

US, Britain and Israel help Iranian nuclear scientist escape

Iran loses another of its allies in Iraq

Texas Congressman Al Green admits to affair with drug using staffer