The prices of bread have gone up exponentially a day after RBZ governor John Mangudya launched the new forex auction system which saw the rate of the Zim dollar to US dollar closing at ZW$57.
Therefore, this value should reflect on the prices of goods and services, instead, proton bread has gone up to ZW$87 which translates to more than US$1.
A Baker’s Inn loaf of bread costs ZW$65 on the informal market.
A loaf of bread before de-dollarizing costs US$0.90.
Does it mean the average realized yesterday is not a true reflection of the value of the Zim dollar? Well, on the black market, it is valued between $65 and $80.
This still leaves a loaf of bread expensive.
Also Read: THINGS YOU MIGHT NOT KNOW ABOUT GINIMBI
Genius Kadungure aka Ginimbi was a popular Zimbabwean socialite and businessman.
He was also the founder and Chief Executive Officer of a gas company, Pioneer Gases which has interests in Botswana, South Africa, and Zimbabwe. He was also the owner of Dreams Nightlife Club...read more