wow.gm - Attempts to tame Zimbabwe's multimillion percent annual inflation rate had an inauspicious beginning on 1 August when banks turned customers away after running out of cash. Reserve Bank governor Gideon Gono sees the introduction of a new currency that will lop off ten zeroes from the old currency, effectively revaluing Z$10 billion to one Zimbabwe dollar, as the solution to the country's hyperinflation. On 4 August, US$1 was equivalent to Z$75 on the parallel currency exchange market. The...» view full story