Zimbabwe devalues currency amid exchange rate volatility

HARARE, Sept. 27 (Xinhua) -- The Reserve Bank of Zimbabwe (RBZ), the country's central bank, on Friday devalued the new gold-backed currency by 42.6 percent against the U.S. dollar in its first official adjustment of the exchange rate since its launch in April.

The latest adjustment came after renewed pressure on the exchange rate in recent weeks, as reflected in the widening parallel market rates, which now exc