The Zimbabwe dollar has crossed the 400 mark to the American dollar at official exchange rate, latest results from the Reserve Bank of Zimbabwe auction system have shown.

From 391.5339 the past week, the local currency traded weaker at 403.4048 to the US dollar.

Meanwhile, the black market exchange rate is twice the official rate ranging anything between 800 and 900.

Apparently, renowned economist Steve Hanke is on record calling on Harare to dump its unstable local currency and dollarise.

Hanke has for years been providing reliable inflation figures as the government has allegedly been downplaying inflation figures to present a good picture.