Zimbabwe devalues its currency

Zimbabwe has devalued its currency in an attempt to jump-start its ailing economy.

Finance Minister Simba Makoni said the government has decided to set the official exchange rate at 50 Zimbabwean dollars to the US dollar from 38 Zimbabwean dollars previously........


http://news.bbc.co.uk/1/hi/business/862968.stm

Great read. Check it out.

Good read, the 70% mentioned by BBC is actually the unemployment rate, inflation in Zim is 1200% - check it out here http://www.news24.com/News24/Africa/...976028,00.html