Zimbabwe currency tumbles to record low

The Zimbabwe currency tumbled to a record low of 25 million for a single US dollar yesterday, currency dealers said.

With Zimbabwe dollars mostly available in bundles of 100,000 and 200,000 notes, one $100 note bought nearly 20 kg of local notes at the new market rate yesterday.

Currency dealers said uncertainties ahead of elections scheduled March 29 and the world's highest inflation of 100,500 percent led holders of hard currency to hang on to their money at the same time as the state central bank pumped more local cash into the market for election costs.