Tuesday, February 27, 2024
HomenewsZimbabwe Currency (ZWL:USD) Turmoil Is Temporary: Central Bank Chief Mangudya

Zimbabwe Currency (ZWL:USD) Turmoil Is Temporary: Central Bank Chief Mangudya


Zimbabwe’s currency turmoil on the parallel market over the past three weeks, which has been fueled by year-end demand, is “temporary,” the country’s central bank governor said.

The current wave of exchange-rate volatility was driven by holders of an increased supply of the local currency rushing to buy US dollars at the end of the year, said John Mangudya. Contributing factors included bonuses paid to civil servants and supplier payments, he said.



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