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.
Trending On ZIMetro News. . .
- Blue Dam Claims Another Life!
- Popular Prophet Shoots Wife Dead In Public For Leaving Him
- “There will not be a Ndebele Kingdom in Zimbabwe” – Mnangagwa
- “It’s legal” – Govt speaks on Grobler’s eviction from farm