{"id":78190,"date":"2023-05-24T19:07:00","date_gmt":"2023-05-24T17:07:00","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/chasing-the-wind-rbz-sinks-zimdollar-value-by-26-but-black-market-rates-race-to-3000"},"modified":"2023-05-25T00:07:18","modified_gmt":"2023-05-24T22:07:18","slug":"chasing-the-wind-rbz-sinks-zimdollar-value-by-26-but-black-market-rates-race-to-3000","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/chasing-the-wind-rbz-sinks-zimdollar-value-by-26-but-black-market-rates-race-to-3000","title":{"rendered":"CHASING THE WIND: RBZ sinks Zimdollar value by 26% but black market rates race to 3,000"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>By Agencies<\/b><\/p>\n

HARARE: In a significant blow to Zimbabwe\u2019s economy, the country\u2019s dollar experienced a sharp decline of 26 percent during Tuesday\u2019s foreign-exchange auction, a Bloomberg report said. The official exchange rate now stands at 1,888 Zimbabwe dollars to the US dollar, compared to 1,404 just a week ago.<\/p>\n

This comes in response to a report issued by a government commission, which stated that the currency was overvalued and advocated for the government to relax foreign currency controls.<\/p>\n

The latest development brings the official rate closer to the parallel market rate, which ranges between 2,300 and 3,000 Zimbabwe dollars to the US currency.<\/p>\n

A joint report by the Competition and Tariff Commission and National Competitiveness Commission has emphasised the need for market forces to determine the exchange rate and prices, suggesting that this approach is unlikely to lead to price increases since manufacturers\u2019 costs are already linked to the parallel market.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. By Agencies HARARE: In a significant blow to Zimbabwe\u2019s economy, the country\u2019s dollar experienced a sharp decline of 26 percent during Tuesday\u2019s foreign-exchange auction, a Bloomberg report said. The official exchange rate now stands at 1,888 Zimbabwe dollars to the US dollar, compared to 1,404 just a week ago. This comes in […]<\/p>\n","protected":false},"author":84,"featured_media":78189,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[1493,2189,19],"class_list":{"0":"post-78190","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-africa-press","10":"tag-africa-press-zimbabwe-2","11":"tag-zimbabwe"},"yoast_head":"\nCHASING THE WIND: RBZ sinks Zimdollar value by 26% but black market rates race to 3,000 - zimbabwe<\/title>\n<meta name=\"description\" content=\"By Agencies HARARE: In a significant blow to Zimbabwe\u2019s economy, the country\u2019s dollar experienced a sharp declin ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/chasing-the-wind-rbz-sinks-zimdollar-value-by-26-but-black-market-rates-race-to-3000\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CHASING THE WIND: RBZ sinks Zimdollar value by 26% but black market rates race to 3,000\" \/>\n<meta property=\"og:description\" content=\"By Agencies HARARE: In a significant blow to Zimbabwe\u2019s economy, the country\u2019s dollar experienced a sharp declin ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/chasing-the-wind-rbz-sinks-zimdollar-value-by-26-but-black-market-rates-race-to-3000\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-24T17:07:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-24T22:07:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/05\/sm_1684949758.073726.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"517\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/chasing-the-wind-rbz-sinks-zimdollar-value-by-26-but-black-market-rates-race-to-3000\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/chasing-the-wind-rbz-sinks-zimdollar-value-by-26-but-black-market-rates-race-to-3000\",\"name\":\"CHASING THE WIND: RBZ sinks Zimdollar value by 26% but black market rates race to 3,000 - 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