Confidence seems to have returned to the local market after the government extended use of the multiple currency by five years to 2030 by which time it hopes to have restored confidence in the local currency.
The country’s central bank has called for increased use of the local currency to increase its demand.
Offers at yesterday’s auction ranged from $5 722 to $5 775 but there are calls to liberalise the market by abandoning the auction and leaving trading to banks.
The black market rate has remained steady at $7 500 but there is so much shortage of hard cash that the indicative cash rate is $4 000.
(78 VIEWS)
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…
