Zimbabwe currency devalued
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Zimbabwe devalues its currency as part of its battle to tackle its deepening economic crisis.
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Zimbabwe dismissed as &quot;meaningless&quot; Friday a decision by Edinburgh University this week to strip President Robert Mugabe of an honorary degree.
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Zimbabwe's government announced a new law Saturday making it an offense to defy steep price cuts ordered in an effort to control runaway inflation and a growing economic crisis.
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Cuba has ended circulation of the US dollar in an attempt to resist a tightening US blockade. Dollar transactions that have been allowed for the last 11 years were replaced by convertible Cuban pesos, which are worthless outside Cuba.
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An escalating energy crisis has pulled the plug on hopes of reviving Zimbabwe's economy as production grinds to a halt in a manufacturing sector already battling the impact of sky-high inflation.
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Zimbabweans thronged banking halls Monday to beat a deadline to swap 200,000-dollar bills which become worthless when businesses close for the day.
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Zimbabwe's annual rate of inflation last month dropped to 209 percent, edging closer to a year-end target of 150 percent from a peak of 622.8 percent in January, according to a newspaper report.
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Englandâs stance over the Zimbabwe crisis hardened yesterday. They are planning to offer compensation to Zimbabweâs cricket board rather than make another tour of the country while Robert Mugabe is in
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Sterling was the weakest performer among the major currencies, falling below 1.8 US dollars for the first time in nearly three months.
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The United States is set to turn a  blind eye to the sliding dollar and a deaf ear to protests  about its fall, but experts smell trouble for all in what looks  like an effective devaluation of the world's reserve currency.
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Zimbabwe President Robert Mugabe on Wednesday threatened to seize foreign companies, including mines, he accused of economic sabotage and of hiking prices as part of a campaign to oust his government.
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Zimbabwe is to print new banknotes in an effort to tackle the cash shortages afflicting the country.
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People in Zimbabwe have been rushing to spend their old banknotes on the last day they are legal tender.
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The falling dollar reached new depths against the euro today as the dollar's status as the premier international reserve currency is growing more precarious.
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Zimbabwe&#39;s galloping inflation will  force President Robert Mugabe from office before the end of the  year, the United States ambassador to Harare said on Friday,  predicting the rate could hurdle 1 million percent within  months.
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The Zimbabwean state could take 50% stakes in mining firms, President Robert Mugabe has reportedly said. The government is considering the move, reports claim, in an effort to crack down on what it says is the illegal use of foreign currency from exports.
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The dollar fell against the pound and the euro yesterday, prompting calls for intervention to support the dollar from several European finance ministers.