It is, however, failing to close the gap with the black market now said to be between $250 and $280 to the greenback.
But, with the crucial by-elections, which most people said were a litmus test for the ruling party and the renamed Citizens Coalition for Change, over, the government can now concentrate on stabilising the local currency ahead of next year’s elections.
Inflation has been on the increase since the beginning of the year when it stood at 60.6% but is now at 72.7%. Month-on-month inflation, however, dropped from 7% in February to 6.3% in March.
A total of US$37.6 million was allotted to more than 1 400 entities today with US$6.5 million going to 1 080 bidders in the small and medium enterprises sector and US$31.1 million to 399 large firms.
(81 VIEWS)
This post was last modified on March 29, 2022 9:34 pm
Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…
The Zimbabwe government’s insatiable demand for money to satisfy its own needs, which has exceeded…
Economist Eddie Cross says the Zimbabwe Gold (ZiG) will regain its value if the government…
Zimbabwe’s capital, Harare, which is a metropolitan province, is the least democratic province in the…
Nearly 80% of Zimbabweans are against the extension of the president’s term in office, according…
The government is the biggest loser when there is a discrepancy between the official exchange…