Dollar drought bites Zimbabwe
Zimbabwe’s foreign currency auction market was supposed to solve its forex woes. But a lack of available dollars is still driving down the value of the local currency, and pushing up inflation
On the streets of Harare, currency traders play hide-and-seek with law enforcement. They huddle on street corners outside busy retail outlets, or they line up on popular dealing streets on the outskirts of the CBD. They whisper the going rate for the day to passers-by — potential customers who may be looking to exchange US dollars for local currency to pay school fees or utilities bills.
At the first sign of law enforcers, they disappear into the crowds...