All Zimbabwean Currency Denominations Combined Cannot Buy A Loaf Of Bread
This Friday morning, it took 69 Zimbabwean dollars to buy one loaf of bread from the supermarket as confidence in the local currency hits rock bottom.
The price of a loaf of bread has gone up 3 times more than the value of the country’s highest currency note – a $20 note, which was ironically introduced the same week.
What is of greatest disappointment is the fact that all Zimbabwean currency denominations combined, still can’t get one a loaf of bread.
Rising costs as a result of high inflation and a depreciating local currency, are threatening the livelihoods of almost every Zimbabwean living below the poverty line.
Economic experts predict an economic catastrophe by year-end as inflation, which reached 765,57 per cent this April, and a falling exchange rate in the parallel market that is now at 70 to the US dollar, remains the biggest cost drivers.
The Zimbabwean dollar has continued to plummet against the U.S. dollar on the parallel market since the RBZ introduced the new banknotes in $10s and $20s.
Zimbabwe’s president, however, believes this is all part of a wider political plot against his government by the opposition working with external enemies of the state.
“We are fully cognisant that this is a battle being fuelled by our political detractors, elite opportunists and malcontents who are bent on pushing a nefarious agenda they will never win,” he said at the ZANU PF Politburo meeting this Wednesday.
His appointed central bank governor, Mangudya on the other hand, believes the hyperinflation in the country is as a result of demonic attacks on the central bank and has since called out for prayers from concerned citizens.
To that effect, President Emmerson Mnangagwa has declared 15th of June 2020 as the national day of prayer and fasting for citizens to pray out evil forces blocking the government’s success.
IMPORTANT NOTICE:Access LIVE News, Jobs and Exchange rates directly on WhatsApp. Send a WhatsApp message with the word HIE to +263718636522 or just CLICK HERE to try it out. iHarare is now a information one-stop-shop. Please click on the links highlighted in Red to access News, Events, Jobs, Pricecheck, Classifieds, Dating and Education services by iHarare.For any queries contact us by CLICKING HERE .
The post Did You Know: All Zimbabwean Currency Denominations Combined Cannot Buy A Loaf Of Bread? appeared first on iHarare News.