US Dollar Crumbles In The Parallel Market
12 October 2018
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By Paul Nyathi|The Harare parallel market exchange rates on Thursday afternoon took a shock turn as the United State Dollar exchange rate tumbled from $650 to $250 Bond Notes for US$100.

Currency dealers who spoke to ZimEye.com indicated that the rate which they claim is determined by the Reserve Bank of Zimbabwe had hit a shock $650 Bond Notes for US$100 by mid morning Thursday only for it to tumble by more than half later in the day when they tried to deliver the green buck to the Reserve Bank.

The dealers claimed that the fall may be temporary as the RBZ has reduced its demands for the US Dollars after sourcing enough currency to bring in fuel and wheat demands that had threatened to collapse the economy.

The Currenecy dealers on the streets of Harare were in a hurry to offload the cash as it became apparent that shortages of basic commodities were not going to persist. The rates are expected to continue falling into the weekend, and might begin gaining towards the end of the month, the dealers say.