Central Banking

New currency for Zimbabwe

The Reserve Bank of Zimbabwe (RBZ) has announced that it will introduce a new currency next year. RBZ governor Gideon Gono said the new currency would be unveiled "at a date to be announced".

Inflation surged to 411 percent in October the country's Central Statistical Office said last week. The central bank currently issues temporary bearer cheques - high denomination notes introduced two years ago to ease cash shortages. These notes expire at the end of the year.

Meanwhile Gono, who has rece