• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Zimbabwe President hints at local dollar revamp after currency rout

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
42
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Engineers & Planners Reconstitutes Board and Management of Azumah Resources After Securing Ownership of Gold Mining Firm

Ghana’s Current Crude Output Far Below Projected 500,000 bpd – Dr Theo Acheampong

World Bank Reaffirms $4.5bn Support for Ghana’s Development Priorities Under Country Partnership Framework

Zimbabwe President hints at local dollar revamp after currency rout

Zimbabwean President Emmerson Mnangagwa hinted that the authorities will soon announce steps to halt a plunge in its currency, which is the world’s worst performer against the dollar this year.

“We shall soon be announcing the introduction of our structured currency,” Mnangagwa said Tuesday at his first cabinet meeting of the year in the capital, Harare. The nation’s fiscal and monetary heads are working on a raft of policy measures to arrest price increases, stabilize the currency and encourage savings, he said, without providing further details.

George Guvamatanga, the secretary for finance and economic development, didn’t immediately respond to a text message seeking comment.

The Zimbabwean dollar has lost more than 40% of its value against the dollar this year and traded at 10,927 on Tuesday, its weakest level since being reintroduced in 2019. The depreciation has stoked annual inflation that soared to 34.8% last month from 26.5% in December. Rising costs of food and goods and services including housing and electricity contributed to the surge.

Zimbabwe has been struggling to stabilize its foreign-exchange rate even after the authorities took multiple steps to support it, including mandating corporates to pay taxes strictly in the local currency, introducing gold-backed digital money and liberalizing the exchange rate.

Tags: currency routdollarZimbabwe President hints at local dollar revamp after currency rout
No Result
View All Result

Highlights

Equities Extend Rally as GSE Index Closes at Fresh High

T-Bill Undersubscribed as Gov’t Manages to Mobilize GHS 2.8bn

GIPC CEO Promotes EV Investments in China

China’s Role in Africa’s Green Energy Future

Ghana, Turkey Renew Commitment to Achieve $1bn Trade Target Before 2027

Prof Bokpin Urges Gov’t to Boost Export Competitiveness to Benefit from China’s Zero-Tariff Policy

Trending

Business

Engineers & Planners Reconstitutes Board and Management of Azumah Resources After Securing Ownership of Gold Mining Firm

October 20, 2025

Engineers & Planners Reconstitutes Board and Management of Azumah Resources After Securing Ownership of Gold Mining Firm...

Ghana’s Current Crude Output Far Below Projected 500,000 bpd – Dr Theo Acheampong

October 20, 2025

World Bank Reaffirms $4.5bn Support for Ghana’s Development Priorities Under Country Partnership Framework

October 20, 2025

Equities Extend Rally as GSE Index Closes at Fresh High

October 20, 2025

T-Bill Undersubscribed as Gov’t Manages to Mobilize GHS 2.8bn

October 20, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.