Zimbabwe dollar sheds $14.21 now at $366.27 to the US dollar


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The Zimbabwe dollar today shed $14.21 against the United States dollar to average $366.2687 down from $352.0626 last week.

It, however, remained unchanged on the black market where it ranges from $460 for cash, $580 for mobile money to $670 for swipe.

It was pegged at $365.2381 at the interbank rate.

A total of US$25.2 million was allotted today with US$4.4 million going to small enterprises.

Offers ranged from $345 to $395.

The government yesterday announced additional measures aimed at shoring up the local currency and controlling inflation which included guaranteeing that the United States dollar will remain a trading currency until the end of the National Development Strategy Phase One in 2025.

It also hiked interest rates to 200% and now insists that loans should be paid in the currency that they are obtained.

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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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