Rate Shoots Up To Rtgs$200: Usd1
Zimbabwe’s street exchange rate increased from Rtgs120 per 1 US dollar in the first week of October 2021 to 200Rtgs per 1 US dollar growing at an exorbitant rate which was never expected.
While the government of Zimbabwe has stood firm with their bank rate moving slowly from Rtgs$ 85.5 to Rtgs$ 87.6, the majority of the country’s businesses have raised their rate to 180-200 respectfully including Simbisa Holdings which is the biggest Fast food company in Zimbabwe.
The government has implemented almost all the tricks in the financial cheat book to control the ever rising rate but to no avail.
In a recent transaction that was conducted by a customer at a Simbisa Zvishavane Bakers Inn outlet today it showed the following:
In other news,
‘UNPAID’ MAN BURNS US$2,5M COTTON. . . Suspect threatens to burn more
AT LEAST 1,2 million kilograms of cotton lint with an estimated value of US$2,5 million has been destroyed by fire at a ginning site at Checheche Growth Point in Chipinge South.
The fire broke out in the early hours of yesterday at a Cotton Company of Zimbabwe Limited (Cottco) ginning site…Learn More