20°C / 22°C
  • Sat
  • 18°C
  • 6°C
  • Sun
  • 17°C
  • 4°C
  • Mon
  • 17°C
  • 3°C
  • Tue
  • 17°C
  • 4°C
  • Wed
  • 14°C
  • 7°C
  • Thu
  • 16°C
  • 5°C
  • Sat
  • 16°C
  • 13°C
  • Sun
  • 17°C
  • 10°C
  • Mon
  • 17°C
  • 10°C
  • Tue
  • 18°C
  • 11°C
  • Wed
  • 16°C
  • 8°C
  • Thu
  • 15°C
  • 12°C
  • Sat
  • 20°C
  • 7°C
  • Sun
  • 19°C
  • 7°C
  • Mon
  • 19°C
  • 5°C
  • Tue
  • 19°C
  • 6°C
  • Wed
  • 17°C
  • 9°C
  • Thu
  • 18°C
  • 6°C
  • Sat
  • 19°C
  • 4°C
  • Sun
  • 17°C
  • 3°C
  • Mon
  • 17°C
  • 1°C
  • Tue
  • 19°C
  • 0°C
  • Wed
  • 17°C
  • 6°C
  • Thu
  • 20°C
  • 5°C
  • Sat
  • 25°C
  • 14°C
  • Sun
  • 23°C
  • 15°C
  • Mon
  • 22°C
  • 14°C
  • Tue
  • 20°C
  • 14°C
  • Wed
  • 19°C
  • 15°C
  • Thu
  • 23°C
  • 15°C
  • Sat
  • 20°C
  • 14°C
  • Sun
  • 16°C
  • 11°C
  • Mon
  • 17°C
  • 9°C
  • Tue
  • 16°C
  • 13°C
  • Wed
  • 16°C
  • 11°C
  • Thu
  • 20°C
  • 11°C
  • Sat
  • 15°C
  • 10°C
  • Sun
  • 17°C
  • 7°C
  • Mon
  • 16°C
  • 9°C
  • Tue
  • 17°C
  • 10°C
  • Wed
  • 15°C
  • 7°C
  • Thu
  • 15°C
  • 9°C
  • Sat
  • 14°C
  • 12°C
  • Sun
  • 15°C
  • 10°C
  • Mon
  • 15°C
  • 11°C
  • Tue
  • 16°C
  • 10°C
  • Wed
  • 15°C
  • 9°C
  • Thu
  • 15°C
  • 10°C
  • Sat
  • 20°C
  • 5°C
  • Sun
  • 21°C
  • 6°C
  • Mon
  • 19°C
  • 4°C
  • Tue
  • 20°C
  • 4°C
  • Wed
  • 19°C
  • 8°C
  • Thu
  • 19°C
  • 7°C
  • Sat
  • 15°C
  • 2°C
  • Sun
  • 14°C
  • 1°C
  • Mon
  • 15°C
  • 1°C
  • Tue
  • 15°C
  • 0°C
  • Wed
  • 17°C
  • 5°C
  • Thu
  • 18°C
  • 6°C
  • Sat
  • 24°C
  • 6°C
  • Sun
  • 23°C
  • 6°C
  • Mon
  • 20°C
  • 6°C
  • Tue
  • 21°C
  • 5°C
  • Wed
  • 18°C
  • 9°C
  • Thu
  • 20°C
  • 7°C
  • Sat
  • 18°C
  • 12°C
  • Sun
  • 15°C
  • 8°C
  • Mon
  • 16°C
  • 7°C
  • Tue
  • 14°C
  • 8°C
  • Wed
  • 16°C
  • 7°C
  • Thu
  • 19°C
  • 7°C

Zimbabwe's new currency expected to trade at 2.5 vs US dollar - cbank

This is a significant devaluation as the regulator attempts to stem chronic cash shortages.

FILE: John Mangudya. Picture: Twitter @therealngoni.

HARARE - Zimbabwe’s new currency is expected to begin trading at around 2.5 to the US dollar, Central Bank Governor John Mangudya said on Friday, a significant devaluation as the regulator attempts to stem chronic cash shortages.

The Reserve Bank of Zimbabwe (RBZ) on Wednesday said it would scrap a peg between its quasi-currency bond notes and the US dollar, creating a new currency from the bond notes and notional electronic dollars known as RTGS dollars.

Trading on the Interbank market was due to begin on Monday, although Mangudya mentioned trading had started on Friday morning.

Comments

EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the EWN community a safe and welcoming space for all.

EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

comments powered by Disqus