Zimbabwe's central bank governor says he is knocking 10 zeros off the country's hyper-inflated currency to make 10 billion dollars become one dollar.

Zimbabwe suffers the highest inflation rate in the world. Governor Gideon Gono says that high rate is constraining operations of the country's computer systems. Computers, electronic calculators and automated teller machines at banks have not been able to handle basic transactions in billions and trillions of dollars.

Just last week Gono introduced a new 100 billion-dollar note that is not enough to buy a loaf of bread.

Gono says the new rate goes into effect on Aug. 1 with the issue of a 500-dollar bill equivalent to 5 trillion dollars at the current rate.

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Thuthukani Mkhize said:

When Ghana changed their currency in Decemebr 2007, the zeros were removed and today the cede is equal to a US$. So when Zimbabweans who want to continue counting money in billions or trillions does not make sense. A pound should be equal to a Zim Dollar. Why do people who work overseas expect to be paid a trillion dollars for a pound as if an hour in europe is worth more than in Zimbabwe. I think people should be practical please. Work honesty, and expect a fair exchange rate for your money locally or internationally. Its the local Dollars which we should all be trying to protect as we will benefit in the long run because things will become cheap if we becaome accountable, not to any political party. those who are in business be in business, this buying and selling in just a survival traders behaviour which destroys and has destroyed Afriavn economies.

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August 02, 2008
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Thuthukani Mkhize said:

Do people know about George Soros? He is an American Billionaire, and his business is economic assassinator. If people remember the Italian Lira lost value overnight because of George Soros, and what did he do, he walked away having made billions after destroying the Italian economy. So when Gono cancells the Zeros people like George Soros who benefit from such attacks, loss billions. People lets have the facts of what is really happening in our country. Zimbabwe should have collapsed ages ago, if it wasn't because the maturity of the politicans he Zimbabwe are defending the country on all fronts. Its only that most of our people do not really know how things work. The DRC warring forces are intensifying and building up their weapons, whats happening here now, If you are able to connect DRC with the wealth in all G8 Countries then , you are getting a snapshot, but you need the complete overview picture. Coltant minerials and The American Consortium that lost the sole control marketing of that resource. No wonder the advocating that the Air Zimbabwe should not fly outside the country. Find why Australia is trying to block Air Zimbabwe from flying to China, because its said that it flies through Australian territory. If you can solve those questions then you are beginning to understand that its not a political game, but a money, controll, resources and marketing interests and its nothing about misrule of Mugabe. Its total annihilate of Zimbabwe and Mugabe, forget about democracy, blacks are not important, if you do not know that as yet, wake up, Africans.

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August 02, 2008
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J NKOMO said:

	I DO NOT KNOW WHETHER ZIMBABWE WILL EVER BE A DESTINY FOR US,AND OUR CHILDREN. I am personal tired of what is going on that country, eversince the so called Unity Accord,what was it for anywhere. Please, Mthwakazi umhle, allow me to say, what is needed to change our destiny is necessary. Tired son of UMthwakazi J NKOMO
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August 01, 2008 | url
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bobo said:

	now vaGONO is my step uncle and i want to respect him as expected however i find he is showing traits of stupidity and being that i cannot call him that, i hope someone does
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July 31, 2008
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Majays said:

	How can Gono say 500 is equivalent to 5trillion? 500 is 500 not 5trillion. What has made that change! What kind of economics is this? simple arithmetics man.
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July 31, 2008
Votes: +1

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