The Zimbabwean dollar (Zimdollar) official rate has hit its all time lowest in recent times on the official market, figures from the Reserve Bank of Zimbabwe (RBZ) auction have revealed.
From the RBZ auction, whose results have just been released, the local currency traded at ZWL3.673 to the American dollar.
Apparently, the Zimbabwean currency have been on a death-bound spiral according to economic analysts.
The government has been urged to dump it, and fully dollarise instead.
However, President Emmerson Dambudzo Mnangagwa is on record saying his administration will not dump the country’s own currency.
He says he would rather dump the multi currency system, saying no country can prosper without its own currency.
Zwnews
