Companies / Zimbabwe
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Zimbabwe's Devalued Currency Does Little For Economic Crisis
September 2006 | Market OverviewSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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In an attempt to attract cash into the banking system and remedy the out of control hyperinflation which has been plaguing the country, Zimbabwe's Central Bank recently decided to devalue its dollar by an effective 60% and to remove three zeros from all bank notes. It was hoped that this would help consumers who have been dealing with inflation rates of nearly 1,200%, currently the highest rate in the world.