Browsing: US dollars

If you received your salary on the 1st of January in ZWL, you would struggle to pay for goods and services in February. This volatile situation results in consumers seeing value eroded from their bank balances at an astonishing rate.

We see wages struggle to keep up with inflation, a phenomenon similar to 2008. Most people buy USD from the black market to retain some semblance of value in these balances.

Zimbabwe has a currency crisis, and the Authorities seem to be struggling to deal with it. The rate at which the Zimbabwe dollar is depreciating signifies the state of the economy. Much of this is being blamed on the countries foreign currency auction system.