Zimbabwe devalues currency; 10B becomes 1 dollar

HARARE, Zimbabwe (AP) — 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.

Potshoza kunjani mfowethu, hatshi mina ngiyaphila. Hayi lendaba yamaswina ayikhulumeki kodwa esakuzwa kudala yikuthi okuyilizwanyana kwabo akulamali, I am sure that was in the early '80s ngesikhathi ngiqala ukukuzwa, Its so true!!

its not devaluation/revaluation bobaba its shonalization?how can they devalue a currency against itself??anyway siyazi sonke ukuthi kungekude the zeros will be back where they belong.about ilizwe elingena mali what happened to all the resources which we claim(methan gas in lupane,victoria falls(impopoma zenyembezi),hwange national park, igolide , i-coal,amadayimane ase-beitbridge,umhlaba wethu,).leli lizwe alila bantu abazi ngomnotho!!!!!

Mhlawumbe kunjalo Mpume, baswele osomnotho kuleliyazwe kodwa kulenyanga edlulilileyo iVictoria folosi ibiseLivingstone eZambia njalo kuleyamnyaka yama '90s ibiseNingizimu Afrika. AboWankie, gold, dayimana and the rest belongs to the Zhing Zhong, Maybe umhlaba ngowa warvet,So vele leliyazwe alilamali!

Njiva mfowethu umbedo ngumbedo bayahlany amatshona bayenza izinto bengacabanganga lokhu kuzakubahlupha, so umnotho wonke okhona umugabe sewawudayisa as his exit package and uyazi ukuthi yena useright in his side he just want to make sure ukuthi he completetly destroys

i think we should desist from refering to umnotho wethu as mgabe's.this kind of language isenza singabi nomdladla woku rescue izwe lethu from the rat invasion. uma si refer to our VIC falls as belonging to zambia and umnotho as being a chinese thing then at least mentally we have nothing ngakho wubani ozolwela into engasiyakhe??abePalestine bayazi into abayilwelwayo kodwa thina we were resigned to the "fact"(or is it?) than we have been taken over and akukho tho esingalwenza ngakho which is false!! we should start refering to our resources as ours and let our children know ukuthi ngawabo nabo!!decolonisation begins with the mind!!

Okulitshona lokhu okuthiwa ngu gono kuyazihlanyela ke lokhu nga kusemazweni nga sebakuvalela. Kungimangalisa ngokuthi just a few weeks ago kufake i $100B into circulation, at a cost obviously, noma nje ngingazi ukuthi how much. Namhlanje sokukhuphe 10 zeros and is introducing enye i currency obviously kusuka kuthini ekhanda lakhe, yikho lisifa leliya lizwe, how long does he sit down for to plan these things.

Mina sengidakakile ke okweqiniso ngemgaxa leya, lingaphi bakhokheli bethu

UGDIYONI mgabe UYAHLANYA,THE ZEROS WHICH HE TALKS ABOUT ARE NOT REMOVED THEY`RE SUSPENDED INA WEEKS TIME FROM NOW THERE WILL BE BACK AGAIN FOR ME HE HASN`T DONE ANYTHING.NOW ISINKWA KUTHIWA SESIYI $3.50 WHICH IS THE SAME AS 3BILLION AND INTRODUCED THE COINS WHICH I THINK THEY WILL BE MORE USELESS THAN EVER.THEY ARE NOW SINKING OUR COUNTRY INTO DEEP TROUBLE THAN EVER,THEY HAVE TAKEN THAT COUNTRY AND CHANGED IT TO A FACTORY WHERE THEY TAKE ALL THE MONEY AND GIVE THEIR WORKERS PEANUTS.THIS IS CRAZY.