Standard Bank In Africa Announces Redenomination Of Zimbabwean Currency

The Governor of the Reserve Bank has announced a redenomination of the Zimbabwean currency which is effective as from 2 February 2009. Twelve (12) zero's have been slashed from the currency. As of 2 February 2009, all securities and cash

By None

The Governor of the Reserve Bank has announced a redenomination of the Zimbabwean currency; which is effective as from 2 February 2009. Twelve (12) zero’s have been slashed from the currency.

As of 2 February 2009, all securities and cash statements dispatched by Stanbic will reflect values redenominated by 12 zeros.

In effect: ZWD10, 000,000,000,000, 000 (ZWD10trillion) will be reflected as ZWD1 while ZWD10, 000, 000, 000(ZWD10billion) will be reflected as ZWD0.10.

L.D.

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