The Zimbabwe dollar depreciated to US$1:ZW$40 000 on the black market this week, from US$1:ZW$14 000 in January.
Annual inflation surged to 55% in March, from 47,6% in February, making it one of the highest such rate in the region.
Still, some experts argued that this figure is heavily understated.
This week, analysts said in the absence of concrete action, the currency will be battered further in the coming months.
Following a tour of the Reserve Bank of Zimbabwe (RBZ)’s precious minerals vaults yesterday by President Emmerson Mnangagwa, incoming governor John Mushayavanhu said 2,5 tonnes gold reserves were kept at the central bank, with an. 🔗 Read Full Article
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