Zimbabwe maintains top spot on world inflation dashboard

Zimbabwe’s currency has maintained top position on the troubled currencies dashboard by renowned American economic analyst Steve Hanke.

According to Hanke’s dashboard, the country leads the log standings; 1) Zimbabwe (828%/yr)
2.?? Sudan (357%/yr)
3.?? South Sudan (354%/yr), 4.?? Argentina (152%/yr)
5.?? Nigeria (113%/yr)

Hanke is on record calling on the Zimbabwean government to fully dolarise.

However, President Emmerson Dambudzo Mnangagwa and his administration say they are not going to dump the local currency and dolarise.

According to hints, they are in fact preparing to dump the American dollar.

Meanwhile, below is the Reserve Bank of Zimbabwe interbank foreign currency exchange rate, Gold Coin and Gold-backed Digital Token Prices as at 7 August 2024.