Panic buying hits Zim as US Dollar disappears

As useless bond notes are now flooding the market, there are reports of panic buying of basic foodstuffs.

Messages on social media have also fuelled the panic. Some shops have hiked prices as a result.

One of the messages said :”Tengai ma basics muchengete. The usd/bond rate is escalating zvinotyisa and usd racho has disappeared. There are people who have huge amounts in the banks and have failed to move their funds. They are now hoarding basic commodities by swipe then sell onto the streets to get cash. As we speak if u have USD 100 cash unopihwa bond 122.

Kana uchida RTGS unopihwa 155. The rates are hiking zvinotyisa. The situation is changing every hour. Vane nzeve dzekunzwa gadzirai remagwana.”