Categories: Zim Latest

Gvt working on new currency reforms, President Mnangagwa announces as public confidence in Zimdollar plummets

The government is preparing yet another round of currency reforms, President Emmerson Dambudzo Mnangagwa told Cabinet today.

The Zimdollar is down over 90% since last year and the USD now dominates over 80% of transactions due to the collapse of public confidence in the local currency.

Meanwhile, according to renowned American economic analyst Steve Hanke Zimbabwe’s currency is the weakest worldwide.

On 3 February 2024, Hanke said: “Today, I measure Zimbabwe’s inflation at 1,347%/yr..”

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