Today On average the ZWL is trading at Z$26.00/US$1.00 on cash and Z$36/$1.00 for bank transactions. The traders are buying at Z$34 /$1.00 on transfer deals and Z$25.00 per each dollar on cash transactions.
Today at the black market if you want to buy US10 with cash you pay ZW$260 and on transactions you pay ZW$360.
This has gone beyond inflation and poses one question, can the country continue to use the Zim dollar/ bond notes or should the country go back to using the US Dollar as the legal currency?
For example, if one’s salary is ZW$1000, it means the person is getting US27 dollars per month which is not even enough for one month’s transport to and from work. Where are we going as a country?