all outstanding auction allotments will be converted into ZiG and issued out as non-interest-bearing non-negotiable certificates of deposits at the current interbank exchange rate, with a maturity of 24 months at an interest rate of 7,5 percent per annum...
However, experts remain cautious, noting concerns about the sustainability of the country's monetary policies. While the introduction of a new currency has brought stability, analysts warn that pegging the exchange rate could lead to complications in managing the money supply and interest rates....
On the black market, the Zimbabwe dollar has weakened from around 130 to the U.S. dollar in April to 170 currently for electronic transactions. Over that time the official rate has gone from about 84 to 87 to the U.S. currency. Much of Zimbabwe's economy relies on the black market to...
Annual inflation slowed to 194% last month from 240% in March, official data showed last week. Authorities have failed to explain how the rate has been tapering off in the midst of a wave of price hikes and exchange volatilities that have continued on the parallel market since January. But...
small and medium enterprises which the MSMEs will access from banks and micro-finance institutions at 30% per annum for purposes of enhancing production and productivity across all the sectors of the economy; and reaffirmed its position to support bureaux de change with foreign exchange requirements...