One economist said the local currency will plunge to $1 500 to the greenback by June, but the same economist, Gift Mugano, last year said the local currency would collapse by June. It did not. It only breached the $1 000 mark on the black market this year.
A total of US$14.5 million was allotted to 165 small businesses and 116 corporations today with the bulk, US$12.7 million, going to large companies.
Offers at the auction ranged from $711 to $790.
With elections due in July or August the local currency will be under siege either through government spending or those seeking to discredit the present government.
(104 VIEWS)
The Reserve Bank of Zimbabwe’s Monetary Policy Committee, which met on Friday last week, says…
Zimbabwe’s new currency further weakened to 13.4407 to the United States dollar today down from…
The United States lost its place as the most influential global power in Africa last…
The Reserve Bank of Zimbabwe governor John Mushayavanhu says street money changers who cash in…
The Zimbabwe International Trade Fair (ZITF) has announced an ambitious long-term plan to turn the…
Zimbabwe’s new currency today fell against the United States for the first time since its…