Zimbabwe ditches currency for US dollars

Zimbabwe's stock exchange is ditching the country's collapsed local currency and is trading in US dollars.

Zimbabwe is trying to combat the world's highest inflation by expanding the use of foreign currency.

The longtime opposition has been given control of much economic policy in the coalition government with President Robert Mugabe. Finance Minister Tendai Biti reopened the stock exchange on Thursday after three month of inactivity.

The exchange suspended trading in November after a central bank crackdown on banks and brokers who were accused of using fraudulent methods to acquire shares.

The Herald newspaper reported on Friday that trading got off to a slow start with little activity being recorded.