Wednesday, May 28, 2025
No Result
View All Result
News Report  Zimbabwe
  • News that Matters
    • News
    • Health and Diseases
    • Technology
    • Religion
    • Horror and Disaster
    • Elections 2023
  • Crime and Courts
  • Celebrity
  • Sports
  • Mjolo
  • Breaking News
  • News that Matters
    • News
    • Health and Diseases
    • Technology
    • Religion
    • Horror and Disaster
    • Elections 2023
  • Crime and Courts
  • Celebrity
  • Sports
  • Mjolo
  • Breaking News
No Result
View All Result
News Report  Zimbabwe
No Result
View All Result
Home News

Zimdollar maintains a pole position on currencies index

November 16, 2023
0
Zimdollar maintains a pole position on currencies index

The country’s local currency Zimdollar has maintained its pole position on Professor Steve Hanke’s troubled currencies index.

According to his latest, data Zimbabwe’s year on year inflation is perched 848% followed by Venezuela at 330% and Argentina at 239%.

“Once again, Zimbabwe (848%/yr), Venezuela (330%/yr), Argentina (239%/yr), Syria (173%/yr), & Lebanon (134%) come in as the world’s top five inflaters,” he says.

Previously, Zimbabwe was also pegged at (848%/yr), Venezuela (333%/yr), Argentina (271%/yr), Syria (172%/yr), & Lebanon (133%) come in as the world’s top five inflaters.

This has been the case, for the past three successive editions of the CurrencyWatch publication by the renowned American economist.

However, according to the Reserve Bank of Zimbabwe, Zimbabwe’s annual consumer inflation eased to 17.8% in October 2023, from September’s 18.4%, mainly due to slowing prices of housing & utilities (23.2% vs 25.3% in September); food & non-alcoholic beverages (17.8% vs 18.4%); education (25.4% vs 31%) and communication (42.1% vs 50.2%).

On a monthly basis, consumer prices inched up by 2.5% in October, the most in four months, after a 1% rise in the previous month. The country’s statistics agency adopted last month a geometric aggregation method for computing weighted price indices, replacing the previously used arithmetic aggregation. This method resulted in a drop in yearly inflation from 77.2% in August to 18.4% in September.

But, critics have disputed official figures which they allege to have hab been doctored to present a good picture.

Apparently, the country’s local currency, has continued to fair badly against major convertible currencies especially the American dollar.

Trading updates released by the Reserve Bank of Zimbabwe (RBZ) this week shows that on the Wholesale Auction platform, a total 19 bids were received with a total US$17, 3 million being disbursed out of US$20 million on offer which the participating banks could not exhaust.

On the Retail Auction Platform, a total US$1,9 million was disbursed with raw materials receiving US$598 523, machinery and equipment US$612 285, Consumables US$123 770, Services US$249 Zimbabwe’s annual consumer inflation eased to 17.8% in October 2023, from September’s 18.4%, mainly due to slowing prices of housing & utilities (23.2% vs 25.3% in September); food & non-alcoholic beverages (17.8% vs 18.4%); education (25.4% vs 31%) and communication (42.1% vs 50.2%). On a monthly basis, consumer prices inched up by 2.5% in October, the most in four months, after a 1% rise in the previous month.

The country’s statistics agency adopted last month a geometric aggregation method for computing weighted price indices, replacing the previously used arithmetic aggregation. This method resulted in a drop in yearly inflation from 77.2% in August to 18.4% in September. source: Reserve Bank of Zimbabwewith Retail and Distribution US$315 518, pharmaceuticals and Chemicals US$27 527, Paper and packaging US$72 709.

Source Zwnews

Tags: ArgentinaProfessor Steve HankeReserve Bank of Zimbabwe (RBZ)Venezuela

Related Posts

Rural Havoc – How Unregulated Shebeens and Shops Are Fueling a Drug Crisis

Rural Havoc – How Unregulated Shebeens and Shops Are Fueling a Drug Crisis

by Nyathi
May 28, 2025
0

In a shocking revelation, traditional leaders in Matabeleland South have sounded the alarm over the rapid proliferation of drug abuse...

How to Legally Avoid Paying the US$92 ZBC Radio Licence Fee in Zimbabwe

How to Legally Avoid Paying the US$92 ZBC Radio Licence Fee in Zimbabwe

by Nyathi
May 28, 2025
0

If you're a Zimbabwean driver who doesn't have a radio in your vehicle, you can legally avoid paying the US$92...

Community in Uproar Over Legislator’s Interference in School Project

Community in Uproar Over Legislator’s Interference in School Project

by Nyathi
May 28, 2025
0

A heated debate has erupted in Bubi District, Matabeleland North, after villagers clashed with their legislator, Simelisizwe Sibanda, over a...

Tragedy Strikes Zimbabwe National Army Training

Tragedy Strikes Zimbabwe National Army Training

by Nyathi
May 28, 2025
0

A somber mood settled over Imbizo Barracks in Bulawayo as Lieutenant General Emmanuel Matatu revealed a devastating incident that shook...

Human Rights Commission Sounds Alarm on Harare Remand Prison Abuses

Human Rights Commission Sounds Alarm on Harare Remand Prison Abuses

by Nyathi
May 28, 2025
0

The Zimbabwe Human Rights Commission (ZHRC) has uncovered shocking human rights abuses at Harare Remand Prison, following a fact-finding mission...

Nembudziya Community Rises Up Against Exorbitant Rate Hikes

Nembudziya Community Rises Up Against Exorbitant Rate Hikes

by Nyathi
May 27, 2025
0

  In a bold move, business owners, church organizations, and residents of Nembudziya Growth Point have joined forces to protest...

Please login to join discussion

Trending News Today

  • How to Legally Avoid Paying the US$92 ZBC Radio Licence Fee in Zimbabwe

    How to Legally Avoid Paying the US$92 ZBC Radio Licence Fee in Zimbabwe

    98 shares
    Share 39 Tweet 25
  • Tragedy Strikes Zimbabwe National Army Training

    51 shares
    Share 20 Tweet 13
  • Mastermind Behind The mask- ZIMRA ‘s Latest Catch

    78 shares
    Share 31 Tweet 20
  • Out on Bail – Husband Accused of Assaulting MP Over Alleged Affair

    108 shares
    Share 43 Tweet 27
  • Slap To Death: 40-Year-Old Man Dies After Dispute Over Stolen Phone

    37 shares
    Share 15 Tweet 9
  • Human Rights Commission Sounds Alarm on Harare Remand Prison Abuses

    36 shares
    Share 14 Tweet 9
  • Kombi Driver Alleges Brutal Assault by Employer

    65 shares
    Share 26 Tweet 16
  • Donkey Cart Used as the Getaway Vehicle After Murder

    32 shares
    Share 13 Tweet 8
  • Community in Uproar Over Legislator’s Interference in School Project

    30 shares
    Share 12 Tweet 8
  • Corruption Allegations Rock Marange and Muromo Police Stations

    149 shares
    Share 60 Tweet 37

Popular This Week

  • Corruption Allegations Rock Marange and Muromo Police Stations

    Corruption Allegations Rock Marange and Muromo Police Stations

    149 shares
    Share 60 Tweet 37
  • crocodile vomites human remains

    141 shares
    Share 56 Tweet 35
  • Sir Wicknell Chivayo Finally Showers Mambo and Mai Dhuterere with Gifts

    133 shares
    Share 53 Tweet 33
  • Train-Lorry Crash in Kadoma

    130 shares
    Share 52 Tweet 33
  • Malema Tells Trump to Mind His Own Business-“Gossip’ Doesn’t Cut It”

    118 shares
    Share 47 Tweet 30
  • Hotel Showdown- MP’s Vehicle Takes a Bullet, Drama Ensues

    117 shares
    Share 47 Tweet 29
  • Out on Bail – Husband Accused of Assaulting MP Over Alleged Affair

    108 shares
    Share 43 Tweet 27
  • New ‘ lobola’ Fees for Foreigners Seeking Medical Care in Gauteng

    218 shares
    Share 87 Tweet 55
  • Outrage Over Madzibaba Adamski Jahman’s Comments

    103 shares
    Share 41 Tweet 26
  • Shepherd Mudoveri Laid to Rest

    101 shares
    Share 40 Tweet 25

Popular This Month

  • Kidnapped Zimbabwean Women and Children Safely Rescued

    Kidnapped Zimbabwean Women and Children Safely Rescued

    741 shares
    Share 296 Tweet 185
  • Unhealed Wounds-Remembering the 21 Mothers of Emkhonyeni Who Were Burnt Alive

    304 shares
    Share 122 Tweet 76
  • The Itchy Billionaire: A Tale of Shame and Ridicule

    611 shares
    Share 244 Tweet 153
  • Tragic Bus Accident in Gweru Claims Six Lives

    287 shares
    Share 115 Tweet 72
  • Apostle Eunor Guti Declines Wicknell Chivayo’s Lavish Gift

    271 shares
    Share 108 Tweet 68
  • Deputy Minister’s Fairytale Engagement: Love in the Time of Trade Deals

    256 shares
    Share 102 Tweet 64
  • Loophole or Legal Gymnastics? Zimbabwean Schools Find Ways Around Fee Payment Rule

    237 shares
    Share 95 Tweet 59
  • CAG Travellers Coaches: Where Humanity Takes a Backseat

    236 shares
    Share 94 Tweet 59
  • The Despicable Scam at Zimbabwe’s Hospitals; Its Business Nothing Personal.

    232 shares
    Share 93 Tweet 58
  • Pastor’s Double Life Exposed: Drama Unfolds at Secret Wedding

    222 shares
    Share 89 Tweet 56

Most Read Stories

  • “Zimbabwe Is Discrediting SADC”

    ZANU PF Accused Of Bribing SADC Elders To Retain From Losing Power

    5236 shares
    Share 2094 Tweet 1309
  • Madzibaba gets Toyota Aqua after explaining new currency ZiG to church

    4532 shares
    Share 1813 Tweet 1133
  • Breaking News: Zimbabwe launches New Currency (Zig)

    4277 shares
    Share 1711 Tweet 1069
  • Guide : How to access 2023 Zimsec Ordinary O Level results online

    3971 shares
    Share 1588 Tweet 993
  • Uganda Police Officer Shoots Wife Dead After Mocking Him Over Man-U Loss

    3892 shares
    Share 1557 Tweet 973
  • Floods hit Gweru

    3591 shares
    Share 1436 Tweet 898
  • Mashura pa Gokwe musi wa 12.02.24

    3542 shares
    Share 1417 Tweet 886
  • Secret message for ED after his inauguration

    3480 shares
    Share 1392 Tweet 870
  • Heatwave Warning:Expect Extremely hot temp ranging from 36° to 41° until 12 March

    3392 shares
    Share 1357 Tweet 848
  • Here is the reckless Kombi Driver!!!!!!!!!!! See pics here

    3216 shares
    Share 1286 Tweet 804

  • About Us
  • Contact Us
  • FAQ
  • Privacy Policy
  • Terms of Service
  • Home

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

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

Log In
No Result
View All Result
  • News that Matters
    • News
    • Health and Diseases
    • Technology
    • Religion
    • Horror and Disaster
    • Elections 2023
  • Crime and Courts
  • Celebrity
  • Sports
  • Mjolo
  • Breaking News