Zimbabwe dollar continues to slide against US dollar, now at $5 591.96


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The Zimbabwe dollar today shed $339.31 to average $5 591.9615 to the United States dollar but Finance Minister Mthuli Ncube said the economy remains on a positive growth trajectory.

Offers at today’s wholesale auction ranged from $5 562 to $5 700.

The government, however, remains optimistic that the local currency will remain stable but the situation on the ground is quite different.

Speaking at a business conference in Victoria Falls yesterday, Ncube said: “The economy remains on a positive growth trajectory having recorded GDP growth rates of 8.5 percent in 2021 and 6.5 percent in 2022. There is no doubt that Zimbabwe is one of the fastest growing economies in Africa with projected GDP growth of 5.3 percent in 2023…

“There are greater prospects that this projection will be revised upwards taking into account positive developments being witnessed in the agriculture, mining, infrastructure and tourism sectors.”

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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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