Last updated on September 11th, 2021 at 03:14 pm
The Zimbabwe dollar has shown signs of stability in October, with the local currency shedding 3.1 per cent of its value against the greenback on the interbank market.
As of September 30, 2019, the official USD/Zimbabwe dollar official rate was 15.1979 and fell to”only” 15.6467 as of October 31, 2019.
Some financial experts have opined that the Zimbabwe dollar’s real point of equilibrium is around 7 to the US dollar.
When the Reserve Bank of Zimbabwe (RBZ) floated the exchange rate and introduced the interbank market on February 22 this year, the Zimbabwe dollar rate was pegged at 2.5 against the US dollar.
Between February 2019 and September 30 2019, the local currency had depreciated by 84 per cent from the initial rate of 2.5 to 15.1979.
Trade between African and GCC countries stands at $ 121 billion in 2023, double of what it was in 2016.…
Family members struggling after one week after of Cyclone Chido ripped through the French island territory of Mayotte expressed helplessness…
The United Arab Emirates has launched its orphanage project in Ethiopia's Oromia region on the orders of President Sheikh Mohamed…
In just four months, 100 women have been killed, the majority by males they knew including spouses. Prime Cabinet Secretary…
The Ghanaian entertainment industry is in deep mourning following the sudden death of Bright Owusu, better known as C Confion.…
Since the beginning of December more than five hundred people have lost their lives on the nation's highways. Barbara Creecy,…
This website uses cookies.