A new law in Zimbabwe bans the pricing of goods and services in foreign currency. It’s supposed to ensure fair pricing — but so far it only seems to have fuelled inflation
Just days after Zimbabwean President Emmerson Mnangagwa outlawed the quoting of prices in foreign currency and compelled businesses to use the official exchange rate in currency transactions, all hell seems to have broken loose.
Prices of goods are rising again — and fast. Just two weeks ago, a basket of goods worth Z$10,000 would have cost $83 (at the black market rate of Z$120/$). Now, at the official rate of Z$85/$, that same basket costs $115...