Zimbabwe currency turmoil returns as local dollar plunges 40% on black market

HARARE – Zimbabwe’s dollar has started the new year on the back foot, plunging more than 40% on the parallel market, as high demand for foreign-exchange continues to outstrip supply. A range of factors, including the end of tobacco sales and a softening of global commodity prices, has affected US dollar inflows into the southern African nation, causing its exchange rate to spiral…

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