The exchange rate for the Zimbabwean dollar against other world currencies is on the up again. Currently it’s trading at about ZW$100 million to one British pound (£1).
After the confusion and uncertainty of the last few weeks because of the elections in Zimbabwe which saw the rate going down to as low as £1 to ZW$50 million, the exchange rate has started picking up again.
After the confusion and uncertainty of the last few weeks because of the elections in Zimbabwe which saw the rate going down to as low as £1 to ZW$50 million, the exchange rate has started picking up again.
With events currently taking place in the country, our Zimbabwean dollar is bound to lose more value against other currencies. Now 12 days after the presidential elections there is no sign of the results being announced.
Those misguided elements who masquerade as war veterans have started another wave of farm invasions and violence against peace loving and innocent Zimbabweans.
This will drain the life out of whatever little is left of the Zimbabwean economy. The dollar will fall even further, just wondering whether the Reserve Bank governor Mr Gono will consider removing more zeros from the dollar. Recently he introduced a new higher denomination bank note of ZW$50 million.
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