Motorists among the first to benefit from the firming Zimbabwe dollar


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Zimbabwe’s motorists are among the first to benefit from the firming local currency which has appreciated to $5 395.96 against the United States dollar.

The Zimbabwe National Road Administration has reduced toll fees for motorists by more than $1 000 from $11 960 to $10 800.

The Zimbabwe dollar has firmed against the United States dollar at the last three foreign currency auctions and businesses are scrambling to get the local currency.

In adverts for next month’s elections, President Emmerson Mnangagwa says the local currency is here to stay. 

Zimbabwe might have to ditch other currencies, or even legislate against their use, if need be, he says.

 

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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