Articles tagged 'united states dollar'

Dump bond notes, RTGS: Hanke 22 January 2019 HARARE - Zimbabwe should dump its discredited bond notes and real time gross settlement (RTGS) system and re-introduce the United States dollar as a way of solving the country's fragile currency situation and reduce inflation, economist Steve Hanke has said. The southern African country introd...
Cash crisis persists 29 December 2018 HARARE - The cash crisis is worsening with some banks reportedly turning away their clients as early as 7am yesterday, advising that they had no money. Contacted for comment,  Reserve Bank of Zimbabwe governor John Mangudya, however, said there is no crisis and individuals should resort to pla...
Forex crisis causes mayhem 12 October 2018 HARARE - Contraditions in the implementation of the controversial two percent tax have further fuelled an already volatile economic crisis, with companies responding by either closing shop or increasing commodity prices. The inconsistencies follow austerity measures introduced by Finance minis...
Forex rates hit new record high 12 October 2018 HARARE - The bond note continues to suffer heavy battering against the greenback on the parallel market, with its exchange rate touching new lows. The surrogate currency was trading at over 400 percent against the United States dollar yesterday, compared to 180 percent at the beginning of the ...
Zim's currency options 25 September 2018 HARARE - It goes without saying that pursuant to the adoption of the multi- currency system in Zimbabwe in January 2009 until about 2015, one could withdraw up to $5 000 from an automated teller machine. Over the counter (i.e. from the tellers inside a bank), you could withdraw up to $10 000. ...
Black market rates soar 15 September 2018 HARARE - The bond note has continued to lose ground on the black market, with rates reaching a staggering 100 percent to the United State dollar yesterday. Last week, the bond was trading below 90 percent on the parallel market although it continues to trade at par with the greenback on the of...