Categories: Zim Latest

Zimdollar trades low, as inflation hits highest mark since May 2021

The Zimdollar officially traded at 112.82 to the US$ yesterday however, the local currency traded at over 200 on the parallel market.

Meanwhile companies blamed the country’s forex supply shortfalls, but Reserve Bank of Zimbabwe Governor, John Mangudya attributes the disparity in rates to many businesses accepting payment at parallel market rate.

Meanwhile, Mangudya is not willing to align the official rate to market demands.

Apparently, renowned world economist Steve Hanke insists Zimbabwe should dollarise, as inflation continues on the upward trajectory.

“In this week’s inflation table, Zimbabwe is in the limelight.

“On Jan 13, I measured Zimbabwe’s inflation at 138%/year.

“That’s the highest it’s been since May 2021. Without dollarization, Zimbabwe’s economy is toast.

Zwnews

Share

Recent Posts

Nigerian Football Fans: The Most Passionate Supporters in Africa

In the vibrant tapestry of African football, one nation stands out for its fervent and… Read More

22nd February 2024

YADAH FC Secures Khama Billiat’s Signing, NO Dynamos Deal

YADAH FC is poised to introduce former Zimbabwean international, Khama Billiat, with an unveiling event… Read More

21st February 2024

Alleged Vehicle Smuggling Ring Involving State Agencies Uncovered in Zimbabwean Court Case

A recent court case has brought to light a covert operation involving the smuggling of… Read More

21st February 2024

Tiktok star Bobbi Athoff trending over alleged video leaks

Alleged Bobbi Athoff Leaks Circulate Online, Fans Suspect AI Bobbi has not yet responded to… Read More

21st February 2024

Woman Arrested for Posting Images of Child Shaving Nude Women on Social Media

The woman accused of posting her child waxing nude women on social media has been… Read More

21st February 2024

Khama Billiat’s Potential Move to Yadah FC Sparks Speculation in Zim Domestic Football…VIDEO

Yadah FC officials welcome Khama Billiat at Harare Airport Former Zimbabwe Warriors star Khama Billiat… Read More

21st February 2024