Inflation forces Zimbabwe to slash zeros on bank notes to make currency manageable

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Only days after Zimbabwe issued a 100billion dollar note, its bank chief has said he will reduce the number of zeros in the country's currency to tackle inflation.

It is currently running at around 12million per cent a year and the new note was not enough to buy a loaf of bread yesterday. Last week it bought two loaves.

Automated bank machines have been struggling to handle basic transactions in billions - nine zeros - or trillions - 12 zeros.

In 2006, when inflation stood at a few hundred per cent, the central bank slashed three zeros from the currency.

On Saturday Gideon Gono, central bank reserve governor, told an agricultural show he was going to remove 'more zeros'.

'This time we will make sure that those zeros...will not return. They are going for good,' Mr Gono was quoted as saying.