HARARE – Zimbabwe’s central bank governor said on Tuesday he expected the official exchange rate of a new currency to converge with that on the black market within three months, a move that could help increase the flow of dollars into the banking sector.
The mismatch has seen companies and individuals holding dollars selling their money on the black market for higher premiums. Bankers and economists accuse the central bank of manipulating the official exchange rate, charges that central bank chief John Mangudya denied. Zimbabwe’s economy has been crippled by a cash crunch that has caused shortages of fuel, food and medicine.
The dollar shortages have seen some businesses charging prices in US dollars while prices in RTGS dollars have soared, pushing up year-on-year inflation to a 10-year high of 66.8% in March.
Sverige Senaste nytt, Sverige Rubriker
Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.
MARKET WRAP: Banks and financials gain despite fall in randThe all share gained 0.37% and the top 40 0.42% with banks and financials standing out as the biggest contributors
Källa: TimesLIVE - 🏆 28. / 59 Läs mer »
MARKET WRAP: Rand biggest gainer among emerging marketsThe JSE had a good day, with the all share rising to 59,335.9 points, with platinum miners leading the way
Källa: BDliveSA - 🏆 12. / 63 Läs mer »