Although the American currency brought about stability, it is restraining growth and local industry in the country.
The country’s finance minister has announced that $217 is all that remains in the public account of the Zimbabwean government.
Zimbabwe’s annual inflation rate in July stood at 4,1%, declining from 5,3% the month before, the government statistics agency said on Monday.
Dual currency is making the streets of Harare feel like a million dollars because everyone wants to Eet-Sum-Mor, writes Stanley Kwenda.
Zimbabwe will consider fixing its local dollar to the South African rand but will not adopt it as its main currency, Robert Mugabe said on Thursday.
South African President Kgalema Motlanthe said on Sunday that neighbouring Zimbabwe could adopt the rand as its standard currency.
Zimbabwe will introduce a 100-trillion dollar note, in its latest attempt to keep pace with hyperinflation that has left the economy in tatters.
They wear flashy garments and loud perfumes, presenting themselves as uptown yuppies.
Zimbabwe’s central bank on Friday introduced a Z-billion banknote, worth on the black market, to try to ease desperate cash shortages.
Zimbabwe’s central bank on Friday introduced a Z$500-million note, as the country struggles to cope with the world’s highest inflation.
Zimbabwe’s gold production plunged by 64,5% in October compared with the same period last year, underscoring the woes of the once vital industry.
Zimbabwe will soon introduce higher denomination banknotes, of up to one million Zimbabwean dollars, in a bid to ease the effects of hyperinflation.
Zimbabwe’s militant war veterans threatened on Wednesday to take action against MDC leader Morgan Tsvangirai.
Regional efforts to help Zimbabwe ground to a halt on Monday as Morgan Tsvangirai refused to attend a summit until he is granted a passport.
Zimbabwe President Robert Mugabe and rival Morgan Tsvangirai were set on Friday to resume power-sharing talks for a fourth day.
Zimbabwe President Robert Mugabe and Morgan Tsvangirai failed on Wednesday to break an impasse on power sharing, but said talks had made progress.
Zimbabwean parties resumed talks on Wednesday aimed at rescuing a power-sharing deal. The negotiations ended without agreement on Tuesday.
Zimbabwean President Robert Mugabe has sworn in two vice-presidents ahead of talks on forming a Cabinet, a government official said on Monday.
Former SA president Thabo Mbeki was set to fly to Zimbabwe on Monday in a last-ditch bid to save a power-sharing deal.
Zimbabwe’s political rivals agreed on Friday to seek renewed mediation by former SA president Thabo Mbeki to try to end the unity-government deadlock.
