The Zimbabwe Dollar (ZWL) is expected to accelerate its downfall in the few coming months as fiscal and monetary pressures will force authorities to backtrack on their hawkish monetary policy stance, research firm Morgan &Co predicts. The Central Bank governor, Dr John Mangudya has become synonymous
The latest legal instrument -Statutory Instrument (S.I) 127 of 2021 meant to address exchange rate distortions by penalizing businesses not consistent with the ruling rate on the foreign currency auction market will create American dollar (USD) inflation and lower formal sector USD sales, the Confederation
The Zimbabwe dollar marginally retreated by 0.51 percent (ZWL$0.43) to ZWL$ 82.99 against the American dollar in the latest auction trading conducted this afternoon as the local currency continues to hold its own after months of rapid decline since its introduction 18 months ago. Since the
The decision by government to pay civil servants a Covid-19 allowance in American dollars (USD) has sparked debate over whether to consolidate the local currency or return to dollarization, just 12 months after the country re-introduced its domestic currency. Certainly, the local currency (ZWL) got on
The parallel market exchange rate has taken a rapid upward spiral since the Reserve Bank of Zimbabwe (RBZ) announced the introduction of the new $ 10 and $ 20 notes as exchange rate movers respond to the increase in cash on circulation, 263Chat Business has
The Reserve Bank of Zimbabwe (RBZ) is expected to announce the first Monetary Policy Statement of 2020 in the next 30 days. The statement comes after the country’s treasury highlighted that the country will have an expansionary fiscal policy in 2020, indicating that government expenditure
Barely six months since the return of the Zimbabwe dollar as the sole unit of transacting in the country, its fate has taken a rather quick and dramatic twist as market players are switching back to transacting in United States dollars (USD). In June this year,
The country seems to be swiftly sliding into a recession as the country is entering the last half of the year and warm up for the re-introduction of the Zimbabwean dollar, a local economist has said
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