Jane Mlambo| President Emmerson Mnangagwa has bragged to Zimbabweans in the diaspora that he outsmarted his allies who were responsible for the sharp rise in foreign currency trading rates on the parallel market.

Last Friday the Reserve Bank of Zimbabwe froze bank accounts linked to Mnangagwa’s advisor and Sakunda Holdings boss Kuda Tagwirei and three other companies forcing the black market rates to tumble.

Speaking in USA where he is attending the United Nations General Assembly, Mnangagwa ‘intelligent people’ found ways of destabilizing the economy by undermining the currency reforms but said they have found a way to deal with them bragging that they have arrested the galloping rate.

“On the monetary side, yes, we have introduced one currency,” said President Mnangagwa. “For the first six weeks it remained stable, but then our people are intelligent. We have people who found ways to fight that (stability of the currency) and undermine it, but yesterday (Friday) we also became smarter than them and so we took some action.

“We have now arrested the galloping rate which was galloping from about eight, within few days it had gone up 10, and 20, by the time we left it had gone down and I think today it is about 14,” said Mnangagwa.