Zimbabwe dollar falls by $75 but black market goes haywrire


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The Zimbabwe dollar today fell by $75.59 to $5 903.39 against the United States dollar but the blackmarket rate has gone haywire and is now at $9 800 according to Zimpricecheck. 

Offers at the auction ranged from $5 850 to $6 225 way below the black market and mobile money rate which is $9 600.

There have been increasing calls by the private sector to liberalise the exchange rate because the auction rate is way too low.

Prices are expected to rise again, sending ordinary Zimbabweans to the open market which charges its goods in United States dollars and is therefore cheaper than the chain supermarkets.

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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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