Zimbabwe: ‘Don’t Panic Over Zig Slide, U.S.$ Reserves Now At Par With Zwg10 Billion Balance’ – – Mthuli Ncube

FINANCE Minister, Mthuli Ncube says citizens must not be afraid of another ZWG volatility wave since the country currently has matching local currency and United States dollar balances.

Between August and September 2024, Zimbabwe experienced rapid exchange rate depreciation, which saw the official rate at a premium of US$1:ZWG13,80 being left far behind by the parallel market rate which went up in excess of US$1:ZWG30.

The developments forced retailers to effectively reject the local currency in…