Zimbabwe's currency plunged to a new record low on Thursday, trading at an average 1 billion to the U.S. dollar on a recently introduced interbank market and triggering massive price increases.

and 1.45 billion against the greenback in Thursday morning trade, up from an average 700 million at the beginning of the week. The currency has depreciated by about 84 percent since the central bank effectively floated it in early May after years of an official peg.

Analysts said the rapid weakening of the currency was being driven by inflation expectations as well as huge demand for hard currencies.

"The exchange rate is being driven by massive demand for forex, as well as the desire to hedge against inflation," said Mudzingwa Nhiwatiwa, a research analyst at ZABG banking group.
Preview of Coming Attractions

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WarOnYou - War On Your Mind, Body and Soul!

RON PAUL FORUMS

The anti christ will cause a world wide economic collapse in order to establish a one world order.

hey dirty. im not trying to crash your glee, but are you refferring to biafra, zambia, zimbabwe, or Rhodesia? Rhodesia had a great currency. wasnt it the pound? wha happen. some bantus got the ide'er that they could make it work better?