Zimbabwe dollar remains stable despite Chamisa’s rejection of election results


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The Zimbabwe dollar remained stable averaging $4 647.9681 to the United States dollar at the second auction after the announcement of the election results which Citizens Coalition for Change leader Nelson Chamisa rejected claiming that he won the presidential vote but was cheated by the elections body.

Chamisa, however, did not challenge the results in court claiming that the judiciary is captured yet that is the only remedy. He has instead appealed to the Southern African Development Community and the African Union to callfor fresh elections which will be supervised by outsiders.

Zimbabwe African National Union-Patriotic Front leader Emmerson Mnangagwa who polled 53% of the vote was inaugurated for his second term on Monday.

Mnangagwa vowed to forge ahead with development of the country and promised to complete all the projects he had started.

The Zimbabwe dollar only shed $43.34 from last week, indicating the market’s support for Mnangagwa’s monetary policy measures to stabilise the ecobomy.

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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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