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RBZ tries to get a grip on prices… as apex bank devalues ZiG, raises interest rates

RBZ Governor John Mushayavanhu

THE Reserve Bank of Zimbabwe (RBZ) devalued the ZIG by about 40 percent — to nearly 25 to the US dollar — while also raising interest rates to 35 percent yesterday, in a bid to stabilise prices. At the same time, authorities have begun to consult key stakeholders to address the myriad challenges currently buffeting…

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