Wednesday, 11 September 2024

ZiG WEAKENS, PRICES SOAR

Some shops have reverted back to charging goods in foreign currency as the Zimbabwe Gold continues to weaken.

Prices have risen sharply as a result. According to a snap survey conducted in Harare by Newsday, retailers, who have been displaying prices in both the ZWG and US dollars, have since started charging exclusively in the greenback.

The ZWG shortage has also forced the general public to resort to the US dollar as a store of value and paying for goods and services in the foreign currency.

The foreign exchange rate on the informal market has remained high, ranging between ZWG24 and ZWG28 per US dollar.

Some of the basic commodities like flour and mealie-meal are scarce in supermarkets, where some retailers with the goods have removed price tags in the local currency.

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