Zimbabwe Currency To Be Revalued To Combat Inflation

Zimbabwe's ravaged currency is to be revalued from Friday, the government announced yesterday, slashing 10 zeros off all prices and values.

Hyperinflation has destroyed savings and reduced the economy to subsistence levels, with bricks of banknotes needed for even basic transactions.

The Zimbabwe dollar was worth more than the American greenback at independence in 1980, but Robert Mugabe's misrule has seen it plunge to a point where one American dollar is worth around $100 billion Zimbabwe dollars, and accelerating upwards.

Officially, inflation is running at 2.2 million percent a year, but independent economists estimate it is far higher.