Zimbabwe is holding harmonised elections on 23 August with President Emmerson Mnangagwa of ZANU-PF and Nelson Chamisa of the Citizens Coalition for Change as the main contenders. There are nine other candidates vying for the country’s top post.
The Zimbabwe dollar was under serious attack in June but it has now stabilised with the central bank saying it will continue its tight monetary policy measures to maintain the currency’s stability.
US$18.9 million out of the US$20 million on offer was taken up at today’s auction.
Offers ranged from $4 559 to $4 600.
The local currency could strengthen after the elections if ZANU-PF wins as Mnangagwa has indicated that the Zimbabwe dollar is here to stay.
Zimbabwe allowed multiple currency use until 2025.
(83 VIEWS)
This post was last modified on August 16, 2023 5:22 pm
Zimbabwe is going to introduce legislation which ensures that the country uses one exchange rate…
The role of social media on how people get their news in Zimbabwe is being…
Ten African countries are amongst the biggest debtors to China, but Zimbabwe is not among…
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…