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Zimbabwean currency reduced by trillion to one

world Updated: Feb 02, 2009 16:14 IST

Zimbabwe's central bank slashed another 12 zeroes off the country's worthless currency on Monday, shrinking 1 trillion Zimbabwe dollars into a single Zimbabwe dollar.

The move by Reserve Bank governor Gideon Gono comes just six months after he lobbed ten zeroes off the money in August last year. But world-record inflation estimated to be in the billions of percent quickly eroded the currency's value again.

On Sunday, one US dollar was trading for 250 trillion Zimbabwe dollars.