The Deputy Minister of Finance and Investment Promotion David Mnangagwa has attributed the current surge in inflation to the looming Monetary Policy statement.

Posting on the ministry’s X handle, Mnangagwa said they have been receiving inquiries as to why the local currency had been falling so rapidly.

“We have been receiving enquiries about the surge in the exchange rate, which right now can be attributed to the anxiety and anticipation of the upcoming Monetary Policy Statement which is around the corner,” he says.

Meanwhile, he urged Zimbabwean not to fear for their hard earned cash as the government implement stabilisation measures.

“Government is committed to ensuring that there will be no loss of value through the introduction of the currency stabilization measures.

“If I were to irresponsibly give unsolicited advice, I would urge Zimbabweans with their hard earned ZWL not to hedge against it,” he said.