ZIMBABWE’S foreign exchange market remains critically short of hard cash on Thursday, with traders only looking to tobacco earnings from April to bring some relief. Traders quoted the Zimbabwe dollar unchanged at Z$37,9 to the US unit, its trading level since June under 15-month old partial controls by banking chiefs which averted a return to government controls when speculative pressure had pushed the local currency to all-time lows.
Traders reiterated on Thursday that the controls are likely to remain in place until the country’s foreign exchange squeeze eased, mostly likely after the start of the tobacco season in April.