ZIMBABWE’S main share index inched up almost 23 points with brokers anticipating little movement for the rest of the week due to a lack of news to give the market direction. Simultaneously the central bank devalued the country’s currency by 3%, its second adjustment of the official exchange rate in a month. Currency markets were riddled with confusion as radio reports announced the new lower exchange rate because the central bank failed to inform all the banks that it had devalued the Zimbabwe dollar from 50 to the US$ to US$51,5, effective from the beginning of the week.The local currency had been valued at 38 to the US$ before the central bank devalued it by 24% on August 1, in what dealers said was a first step to correct its artificially-pegged value. The announcement of the second devaluation came as government officials met with a visiting delegation from the International Monetary Fund, which last year froze loans to Zimbabwe because government failed to meet budgetary targets, including the easing of exchange rates in line with pressure from the free market. However, even at 51,5 to the US$, the Zimbabwean currency is trading far below the black-market exchange rate, reportedly about 70 to the dollar. Brokers say investor sentiment in the equity market remains generally low over the country’s poor economic outlook, although the market was lifted by recent measures, including a lowering of interest rates earlier this month. – Own Correspondent with Reuters.