Zimbabwe: We Outsmarted Cash Oligarchs, Says President

23 September 2019

New York — Government last Friday outsmarted some individuals and entities that were behind the sharp rise in foreign exchange rates, a development that has seen the United States dollar falling against the local unit, President Mnangagwa has said.

He said the Zimbabwean dollar, which was introduced as a mono-currency in June this year, performed well in its initial stages only to face wanton assault by some elements in the economy which saw the exchange rates inexplicably rising, thereby causing a price spiral in goods and services.

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