News / National
Market anxiety batters Zimbabwe's RTGS$
30 May 2019 at 08:09hrs | Views
The RTGS dollar continues to take heavy battering against most major currencies - amid worrying indications that it may soon trade above 10 to the American unit, as the country's hard cash shortages escalate.
This comes as Zimbabwe's official inflation has hit a 10-year high of 75 percent, thereby piling more pressure on already-stressed local businesses - as commerce and industry also continue to reel from power blackouts and fuel shortages, among other ills.
To make matters worse for consumers, the prices of most basic consumer goods were hiked sharply twice last week alone, in response to the recent fuel price increases and the ever weakening RTGS dollar against the United States dollar.
More to follow...
This comes as Zimbabwe's official inflation has hit a 10-year high of 75 percent, thereby piling more pressure on already-stressed local businesses - as commerce and industry also continue to reel from power blackouts and fuel shortages, among other ills.
To make matters worse for consumers, the prices of most basic consumer goods were hiked sharply twice last week alone, in response to the recent fuel price increases and the ever weakening RTGS dollar against the United States dollar.
More to follow...
Source - fingaz
