Inflation remains to be the consistent driver of exchange rates this month along with a few new factors.
Many countries that were maintaining steady interest rates have decided to increase them due to rising consumer prices.
During the August survey of Harare, our visit found the Zimbabwean economy in a state of transition. This June, after a decade of using a mix of approaches but primarily relying on the U.S. dollar for transactions, the Reserve Bank of Zimbabwe announced that a new Zimbabwean dollar (ZWL), also known as the Zimdollar, was the only acceptable form of payment.
