Zimbabwe Dollar Plunges, Citizens Flock to US Dollar Amid Uncertainty

By
Tatenda Chikumbutso
1 min read

Zimbabwe's currency has hit a new record low, with citizens rushing to the safety of the US dollar amidst speculations about the fate of the local unit. Currently trading at 22,476 against the greenback, the Zimbabwe dollar has suffered a 73% loss this year, marking the world's second-worst performance after the Lebanese pound. The nation is gripped by a sense of urgency following the accelerated start date of the new governor, John Mushayavanhu, leading to widespread anticipation of a new currency plan announcement. Media reports suggest the plan may involve embracing the gold standard.

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