Zimbabwe's battered dollar has sunk to staggering new lows on the parallel market on the back of growing election jitters, according to dpa. The currency traded Wednesday at nearly 41 million to the US dollar and more than 81 million to the British pound on the parallel market for foreign currency, dealers said. Just two days ago, the black market rate for the US dollar stood at just over 31 million Zimbabwe dollars. Last Wednesday the rate was 29 million to the greenback. President Robert Mugabe's government artificially pegs the value at 1 US dollar to 30,000 Zimbabwe dollars. At independence in 1980, the local unit was roughly at parity with the pound. With the currency in free-fall, supermarket prices are rising like never before. Bread in one bakery was selling at 9.5 million a loaf by Wednesday lunchtime, up from 7.5 million Tuesday afternoon.