The auction system of foreign currency by the Zimbabwe Reserve Bank (RBZ) has still not created much activity in the real estate sector and still has a noticeable impact. This was observed by the Real Estate Institute of the country (REIZ). Observers were to respond by blaming it on the economy as a general or simply a delayed response by the sector. The inflation rate has been reaching new heights in...
The US dollar replaced the worthless Zimbabwe dollar in 2009 but over the last 18 months, the economy struggled because of a domestic shortage of greenbacks. There were rumours that last month the central bank was buying black market US dollars creating general panic within the country. Cash has enjoyed a steady 10% to 20% premium over dollars stored electronically in bank accounts (zollars) but with...
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