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Topic: Zimbabwe dollar


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  Zimbabwe
Zimbabwe became independent in April 1980, when the Lancaster House agreements with Britain brought to an end 15 years of unilaterally declared independence by the former white-minority Government of Rhodesia and the armed conflict that engendered it.
Zimbabwe is a multiparty republic with an executive president and a parliament consisting of 150 members.
The “Zimbabwe Connection” is a not-for-profit, voluntary, Association duly registered in terms of the Associations Incorporations Act, 1985.Its objectives are to provide assistance to all Zimbabweans who, for whatever reasons, have left or are intending to leave Zimbabwe to make a new home for themselves and their families in Australia.
us-africa.tripod.com /zimbabwe.html   (2499 words)

  
 Wikinfo | Zimbabwe
The Republic of Zimbabwe is a country located in the southern part of the continent of Africa, between the Victoria Falls, Zambesi river, Kariba Dam and Limpopo river.
After a brief period as Zimbabwe Rhodesia in 1979 under an internal settlement between the regime and part of the African opposition movement, the country was returned to British rule at the end of 1979 pending elections which led to legal independence under majority government on April 18, 1980.
Zimbabwe is divided into 8 provinces and 2 cities* with provincial status: Bulawayo*, Harare*, Manicaland, Mashonaland Central, Mashonaland East, Mashonaland West, Masvingo, Matabeleland North, Matabeleland South, Midlands.
www.wikinfo.org /wiki.php?title=Zimbabwe   (943 words)

  
 business.iafrica.com | business news Zim dollar bucks official exchange rate
The Zimbabwe dollar bucked its official exchange rate with the US greenback and edged closer to prevailing parallel market rates on Monday, on the opening day of a controlled auction system for foreign exchange.
The US dollar, which had peaked at 6000 Zimbabwe dollars in December on the parallel market while stuck at 800 at the official rate, plunged this month to between 3000 and 5000.
Zimbabwe is currently in the throes of its worst economic crisis since independence from Britain in 1980, with unemployment standing at 70 percent, inflation at 625 percent and poverty levels hovering around 80 percent of the population.
business.iafrica.com /news/295930.htm   (386 words)

  
 ZWNEWS.com - linking the world to Zimbabwe
Harare - The Zimbabwe dollar yesterday clawed back from heavy losses on Tuesday to trade at around $60 000 to the greenback in a move market traders said could be a pointer to an “invisible hand” trying to influence the direction of the battered local currency.
The dollar had on Tuesday plummeted 193 percent from $26 000 to $76 300 to the US dollar, which was within distance of the $90 000 the local dollar changes for against the US unit on the thriving fl market, where many Zimbabweans obtain their foreign exchange.
However the Zimbabwe dollar had shed some of the losses yesterday, trading in a range of between $45 000 and $63 000, giving a weighted average of $60 200 to the greenback.
www.zwnews.com /issuefull.cfm?ArticleID=13053   (462 words)

  
 Zim dollar plunges
HARARE - The Zimbabwe dollar plunged to a new low against the U.S. dollar yesterday after the nation's central bank bought the U.S. currency offshore for the second time in a week, dealers said.
Zimbabwe's dollar tumbled 3,54 per cent on Monday on what dealers said was a mix of speculation and import-related buying of U.S. dollars, with the central bank watching from the sidelines.
Economic analysts said yesterday further falls in the Zimbabwe dollar were inevitable given the poor outlook for Zimbabwe's main exports - tobacco and minerals.
www.namibian.com.na /Focus/DRCcrisis/zimdollar1.html   (581 words)

  
 business.iafrica.com | business news Zim dollar plummets on black market
Zimbabwe's dollar has depreciated sharply in the fl market, losing almost a third of its value against the US unit so far this month, with locals shunning the currency in the face of rampant inflation.
Zimbabwe is reeling from its worst economic and political crisis since pro-government militants invaded white-owned farms in early 2000 to support a government campaign to redistribute farmland to landless fls.
In another example of the widespread reluctance to use the Zimbabwe dollar, some property sales were also being agreed in foreign exchange rather than the local currency, he said.
business.iafrica.com /news/258164.htm   (567 words)

  
 Zimbabwe News :: Zim Observer News Network   (Site not responding. Last check: 2007-10-08)
Zimbabwe's central bank looks set to devalue the country's currency on Thursday to boost the fledgling export sector in a desperate bid to raise foreign currency for food imports, analysts said.
Zimbabwe's annual inflation quickened to 129 percent in April from 123 percent in March.
Adding to inflationary pressures is the government's domestic debt which shot to 8.3 trillion Zimbabwe dollars in April from 2.7 trillion Zimbabwe dollars in mid-January.
www.zimobserver.com /newsdetail.asp?article_id=1128   (444 words)

  
 News   (Site not responding. Last check: 2007-10-08)
The Zimbabwe dollar was devalued by 40 percent from around 12 500 to 17 500 to the US dollar, Reserve Bank of Zimbabwe (RBZ) Governor Gideon Gono announced in a monetary policy statement.
Zimbabwe has not been granted international loans for several years, mainly due to concerns from Western donor nations over the government's human rights record.
Zimbabwe's foreign currency market is tightly regulated, but Gono said "no questions will be asked as to where one got his or her foreign currency" to buy fuel.
www.africancrisis.org /NewsView.asp?Rec=5560&EID=0&   (545 words)

  
 Zimbabwe --  Encyclopædia Britannica
It is bordered by Tanzania on the north and by Malawi, Zambia, Zimbabwe, Swaziland, and South Africa on the west.
The Democratic Republic of the Congo borders it on the north; Tanzania on the northeast; Malawi on the east; Mozambique, Zimbabwe, a tip of Botswana, and Namibia on the south; and Angola on the west.
Zimbabwe's population of about 11 million is rapidly urbanizing but remains basically rural and agricultural.
www.britannica.com /eb/article-9109721   (777 words)

  
 globalEDGE (TM) | country insights - Economy of Zimbabwe   (Site not responding. Last check: 2007-10-08)
Zimbabwe inherited one of the strongest and most complete industrial infrastructures in sub-Saharan Africa, as well as rich mineral resources and a strong agricultural base.
Zimbabwe is not a member of the African Growth and Opportunity Act and a number of textile businesses have migrated to other African countries.
Zimbabwe also has substantial coal reserves that are utilized for power generation, and recently discovered in Matabeleland province are coalbed methane deposits greater than any known natural gas field in Southern or Eastern Africa.
globaledge.msu.edu /IBRD/CountryEconomy.asp?CountryID=153&RegionID=5   (923 words)

  
 Customer Bulletin   (Site not responding. Last check: 2007-10-08)
Clearly, to arrest the decline in the Zimbabwe dollar, policies designed to reduce domestic inflation need to be implemented without delay.
It could be argued that the nominal depreciation of the Zimbabwe dollar was not always sufficient to achieve a sustained real depreciation, which would have encouraged firms to export more.
Zimbabwe dollar is to stabilised in the short to medium term.
www.finhold.co.zw /bulletin/cb3.html   (505 words)

  
 Frontline Fellowship - Zimbabwean Ruins
Even as the Zimbabwe Dollar plunged at the news, Mugabe decided to send a quarter of his army to fight in the Congo to prop up fellow marxist dictator Kabila.
Workers complained that the Zimbabwe government grabbed half their wages in taxes and then eroded the value of what was left by printing too much money and causing astronomic inflation.
People are dying of starvation in Zimbabwe today while the ZANU government seeks to monopolise all food distribution, loudly proclaiming that they will ensure that supporters of the MDC opposition starve.
www.frontline.org.za /articles/zimbabwean_ruins.htm   (1071 words)

  
 Zimbabwe’s Manmade Crisis
Zimbabwe is in a state of crisis today because those who govern the country have systematically undermined the rule of law.
In their hands, the Zimbabwe dollar has great value; in the hands of an ordinary Zimbabwean, their national currency, their salaries and their savings are virtually worthless.
Zimbabwe has declined in nearly every single category since Mugabe came to power, and the situation has only grown worse as he has amended his policies and tightened his grip on Zimbabwe.
www.state.gov /g/drl/rls/16501.htm   (3682 words)

  
 Foreign & Commonwealth Office Country Profiles
Zimbabwe decided to withdraw from the Commonwealth on 7 December 2003 following its suspension from the Councils of the Commonwealth.
The UK's aid to Zimbabwe is aimed at contributing to alleviating AIDS and to supporting 1.5 million of the poorest and most vulnerable members of the population.
Zimbabwe's straitened economic circumstances, and relative international isolation, have inhibited its participation in continental and international political programmes such as peace-keeping.
www.fco.gov.uk /servlet/Front?pagename=OpenMarket/Xcelerate/ShowPage&c=Page&cid=1007029394365&a=KCountryProfile&aid=1019745115464   (1508 words)

  
 Zimbabwe News.Net   (Site not responding. Last check: 2007-10-08)
Zimbabwe's captain Tatenda Taibu was making arrangements last night to stay with friends or relatives after hurriedly leaving his home in Harare on...
Zimbabwe's government yesterday summoned the US ambassador in Harare to warn it would not hesitate to expel him if he was seen as trying to...
Zimbabwe News.Net is part of an international network of news sites, dedicated to the major regions, countries and cities of the world.
www.zimbabwenews.net   (745 words)

  
 BBC NEWS | Business | Zimbabwe frees trade in currency   (Site not responding. Last check: 2007-10-08)
Zimbabwe's central bank is to allow the Zimbabwean dollar to trade freely, a move seen as a way to aid both exports and stocks of foreign currencies.
Zimbabwe's economy has been reeling from six years of recession caused, critics say, by the land reform policies of President Robert Mugabe.
Zimbabwe now has to import at least 37,000 tons of maize a week to help feed its population.
feeds.zimbabwenews.net /?rid=78134849f1da9dab&cat=4a6d634cbccbbfe2&f=1   (416 words)

  
 allAfrica.com: Zimbabwe
ZIMBABWE'S tourism industry faces collapse after reports of extensive wildlife deaths due to poaching and lack of water in national parks with Gonarezhou and Hwange particularly badly hit.
ZIMBABWE'S month-on-month rate of inflation came off marginally, shedding 10,9 percentage points from September levels (33,3 percent) to 22,4 percent.
ZIMBABWE's triple-digit inflation shot up to 411% year on year last month -- dealing an embarrassing blow to the central bank's target of reducing it to about 300% by year-end, according to official figures released yesterday.
allafrica.com /zimbabwe   (1026 words)

  
 The Zimbabwe Independent   (Site not responding. Last check: 2007-10-08)
The Consumer Council of Zimbabwe (CCZ) has supported the move, saying no goods and services in Zimbabwe should be charged or pegged using foreign currency as had become the norm.
The central bank said in terms of Section 41 of the Reserve Bank of Zimbabwe Act (Chapter 22:15), the legal currency of tender for all goods and services in Zimbabwe is the Zimbabwe dollar.
The Zimbabwe dollar is struggling against the world's major currencies making the parallel market a norm in the country.
www.theindependent.co.zw /news/2004/March/Friday26/2391.html   (646 words)

  
 Zimbabwe dollar firms   (Site not responding. Last check: 2007-10-08)
Mr Hore is a graduate in economics from the University of Zimbabwe.
The Zimbabwe dollar has unexpectedly made substantial gains against major currencies barely 3 months after the announcement of the monetary policy on 18 December 2003.
In what could probably be the beginning of economic revival, the dollar firmed from an average of US$1:Z$6500 to the current $3800 against the greenback and from 1ZAR: Z$850 to $500 against the rand.
www.economist.com.na /2004/5mar/03-05-12.htm   (416 words)

  
 Zim dollar crashes
THE Zimbabwe dollar has crushed to an all time low, following a combination of the country's involvement in the and high importer demand.
Zimbabwe is said to be spending 30 million Zimbabwe dollars a day in the DRC, where an estimated 3,000 Zimbabwean soldiers are trying to reverse a Tutsi-led rebellion against the government of President Laurent-Desire Kabila.
Had Zimbabwe played the diplomatic card and not the military one, it could have saved the dollar from a further crush, analysts said.
www.namibian.com.na /Focus/DRCcrisis/zimdollar.html   (595 words)

  
 Zimbabwe
The capital city is Harare, the currency is the Zimbabwe Dollar and the official language is English.
Smith, Zimbabwe is a destination he recommends to his customers because of its incredible natural beauty, the hospitality of the Zimbabwean people, the professionalism of the government’s tourism bureau and staff, and the pleasant accommodations [many first class hotels in the urban centers and other adequate facilities in rural areas].
Zimbabwe stands poised to expand its tourism industry and become a leading destination for tourists seeking beautiful sights and genuine hospitality.
www.jacksonadvocate.com /zimbabwe.htm   (4855 words)

  
 ZWNews.com - linking the world to Zimbabwe
By the afternoon, $1 bought 1 800 Zimbabwe dollars, down from Friday's 1 500 to 1 rate and up from 2 100 to 1 earlier in the day.
The central bank said last week it deferred a decision on issuing a 1 000 Zimbabwe dollar bank note until after the retirement at the end of the year of Leonard Tsumba, the bank's governor.
Petrol in Zimbabwe is the cheapest in the region at about 15 US cents a litre, half the price of locally produced milk or beer.
www.zwnews.com /print.cfm?ArticleID=5516   (754 words)

  
 Zimbabwe dollar plunges a week after new forex trading system - JAMAICAOBSERVER.COM
The Zimbabwe dollar bucked from its official exchange rate of 26,000 to the greenback to an average of 74,000 in the week after the country decided to launch inter-bank trading.
Cash-strapped Zimbabwe on October 21 introduced the new tradable foreign currency system (TFCBS) to replace a 21-month-old auction system, where the buying and selling rates were largely controlled by the central bank.
Zimbabwe has long been experiencing a shortage of foreign currency as external debts have accumulated, while the government has failed to import adequate vital commodities such as fuel and medicines.
www.jamaicaobserver.com /news/html/20051030T210000-0500_91478_OBS_ZIMBABWE_DOLLAR_PLUNGES_A_WEEK_AFTER_NEW_FOREX_TRADING_SYSTEM.asp   (443 words)

  
 ATM limits rise as Zimbabwe's dollar plummets ATMmarketplace.com   (Site not responding. Last check: 2007-10-08)
ZIMBABWE -- As the value of Zimbabwe's dollar continues to plummet, the country's major commercial banks and building societies have increased their daily ATM withdrawal limits in a bid to satisfy customers and enable them to make purchases without being inconvenienced.
(One Zimbabwe dollar equals approximately U.S. Bankers said the move was meant to allow customers to have cash whenever they needed it during a period of high inflation and the daily price increases of consumables such as sugar and cooking oil.
NMB Bank Zimbabwe Limited, one of the country's high profile commercial banks, also allows customers to withdraw $20,000 from the ATM.
www.atmmarketplace.com /news_printable.htm?id=12080   (248 words)

  
 afrika.no - Zimbabwe: Defenceless dollar takes heavy knock
The Zimbabwe dollar, which had for the past three months found a home on the 1 300 to a US unit level on the parallel market, weakened further into negative territory during the week to hit its lowest level ever at 2 000 to the greenback.
Dealers and analysts said the situation had become desperate for foreign currency hunters as the once-thriving parallel market, which had been offering lucrative rates to exporters compared to the official market, was now starved since a government decision forcing exporters to surrender all receipts to the central bank.
The decision had been made at the same time the government announced a devaluation of the Zimbabwe dollar from 55 to 824 to the US unit at the end of February in a move that was designed to encourage receipts in the ailing interbank market.
www.afrika.no /Detailed/3514.html   (761 words)

  
 globalEDGE (TM) | country insights - Links for Zimbabwe
An investor’s guide to investment in Zimbabwe, the site provides a wide range of information ranging from the general investment climate, local contacts, data on economic activities, information on joint ventures, industrial/office space availability, and rules for investing in Zimbabwe.
Zimtrade is a trade information center, which facilitates international trade between Zimbabwe and the global marketplace.
As the primary business association in Zimbabwe, the Zimbabwe National Chamber of Commerce represents enterprises of every size and kind throughout the country.
globaledge.msu.edu /IBRD/CountryLinks.asp?CountryID=153   (365 words)

  
 Guardian Unlimited | Special reports | Special report: Zimbabwe
September 29: Zimbabwe announced it was moving back into the steam age yesterday by recommissioning 10 coal-fired locomotives to cope with the country's economic crisis.
September 26: Six of Zimbabwe's star footballers were on the run in Britain yesterday after failing to turn up for their flight home after a promotional match in Yorkshire last week.
September 7: Zimbabwe's collapsing economy is increasing pressure on the president to introduce reform, says Andrew Meldrum.
www.guardian.co.uk /zimbabwe/0,2759,181131,00.html   (560 words)

  
 The Zimbabwe Independent   (Site not responding. Last check: 2007-10-08)
WHILE some firms are busy toasting the success of the Reserve Bank of Zimbabwe's (RBZ) foreign currency auction system, others are cursing it, accusing the system of retarding progress.
Mandiwanza, who is chief executive officer of Dairibord Zimbabwe Ltd, told businessdigest in an interview that the popular tendency nowadays was to "cry and cry without coming up with solutions to problems".
He said major Zimbabwe customers had also been affected by the new monetary policy and were finding it difficult to liquidate their debts to Zimplow.
www.theindependent.co.zw /news/2004/March/Friday12/2244.html   (578 words)

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