Categories: Stories

Zimbabwe dollar down by $4.23, now at $142.42 to the US dollar

The Zimbabwe dollar today eased by $4.23 to average $142.4237 against the United States dollar from $138.1979 last week.

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

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.

Recent Posts

Will Mnangagwa go against the trend in the region?

Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…

October 22, 2024

The Zimbabwe government and not saboteurs sabotaging ZiG

The Zimbabwe government’s insatiable demand for money to satisfy its own needs, which has exceeded…

October 20, 2024

The Zimbabwe Gold will regain its value if the government does this…

Economist Eddie Cross says the Zimbabwe Gold (ZiG) will regain its value if the government…

October 16, 2024

Is Harare the least democratic province in Zimbabwe?

Zimbabwe’s capital, Harare, which is a metropolitan province, is the least democratic province in the…

October 11, 2024

Zimbabweans against extension of presidential term in office

Nearly 80% of Zimbabweans are against the extension of the president’s term in office, according…

October 11, 2024

Zimbabwe government biggest loser when there is a discrepancy in the exchange rate

The government is the biggest loser when there is a discrepancy between the official exchange…

October 10, 2024