Bank chief plans currency reforms
- Share via
From Times Wire Reports
Zimbabwe’s bank chief plans new currency reforms, removing “more zeros” from the plummeting Zimbabwean dollar and raising the limit on withdrawals, to tackle the country’s runaway inflation and cash shortages, state media reported.
The country’s inflation rate, officially pegged at 2.2 million percent, is estimated by independent analysts to be closer to 12.5 million percent.
Authorities last week released a new 100 billion-dollar bank note.
By Sunday it was not even enough to buy a scarce loaf of bread.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
