Central Banking

Zimbabwe lops zeros off currency, again

The Reserve Bank of Zimbabwe has chopped 12 zeroes off the Zimbabwean dollar in its latest attempt to curb hyperinflation.

The news comes days after Harare acknowledged that Zimbabwean were using foreign currencies to buy goods and sanctioned such transactions.

Gideon Gono, the governor of the Reserve Bank, said on Monday that the central bank would revalue the currency so that a Z$1bill was worth the same as a Z$1,000,000,000,000 note.

Patrick Chinamasa, Zimbabwe's acting finance minister

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