Zimbabwe revalues currency to try tame inflation

Zimbabwe's central bank revalued its dollar again lopping another 12 zeros off its currency to try tame hyperinflation.

Zimbabwe revalues currency to try tame inflation

Zimbabwe's central bank revalued its dollar again on Monday, lopping another 12 zeros off its currency to try tame hyperinflation and avert economic collapse.

"This Monetary Policy Statement unveils yet another necessary programme of revaluing our local currency, through the removal of 12 zeroes, with immediate effect," Reserve Bank of Zimbabwe Governor Gideon Gono said in his MPC statement.

Gono also said gold deliveries had fallen by 50 percent to 3,072 kilograms in 2008 compared to the previous year.

Reuters
Last Mod: 02 Şubat 2009, 12:49
Add Comment