Zimbabwe's US dollar stocks continue to decline

Zimbabwe's US dollar stocks continue to decline
Published: 02 March 2017 (778 Views)

A new report has raised fears that the United States dollar could be completely wiped out of the Zimbabwean market, with disastrous consequences on the fragile economy.

The report, authored by researchers at advisory firm, MMC Capital and dispatched to clients last week, warned of potential deterioration of current foreign payment problems and warned that companies faced the risk of failing to import raw materials.

It said since the introduction of bond notes by the central bank in November, circulation of US dollars had declined, with the view that the public was withholding of substantial amounts of the greenback and only transacting using bond notes.

The amount of US dollars in circulation has been dwindling, MMC said.

- Fin Gaz

 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Omega Sibanda launches his Zanu-PF campaign

by Staff reporter | 21 June 2018 | 133 Views

Chinamasa proud of bins ceremony

by Staff reporter | 21 June 2018 | 179 Views

Mnangagwa to tour Ekusileni

by Staff reporter | 21 June 2018 | 133 Views

Andy Muridzo wife refuses to kiss him in public

by Staff reporter | 21 June 2018 | 188 Views

Omega Sibanda launched his Zanu-PF campaign

by Staff reporter | 21 June 2018 | 115 Views

Spot FM changes name to Classic263

by Ndou Paul | 21 June 2018 | 88 Views

Mnangagwa takes campaign trail to Bulawayo

by Staff reporter | 21 June 2018 | 99 Views

ZESA employee electrocuted in Bulawayo

by Staff reporter | 21 June 2018 | 108 Views

Are tattoos good for our youths

by Tondorindo | 21 June 2018 | 100 Views

Welcome back our Original Mazoe drink

by Thomas Murisa | 21 June 2018 | 122 Views

Zanu-PF candidates threatening to shut down churches in Hobhouse

by Fanuel Chinowaita | 21 June 2018 | 129 Views

Mnangagwa to resume issuance of grants

by Staff reporter | 21 June 2018 | 100 Views

Your success is in your state of mind

by Enos Denhere | 21 June 2018 | 91 Views

Chamisa showed his true colours when he chose Mugabe over Khupe

by Anthony Mkondo | 21 June 2018 | 130 Views

Mutsvangwa barred from evicting Chipanga from farm

by Staff reporter | 21 June 2018 | 127 Views

Parly exposes Obert Mpofu

by Staff reporter | 21 June 2018 | 120 Views

Mugabe ally in court over political violence

by Staff reporter | 21 June 2018 | 115 Views

Chamisa to boycott Zimbabwe polls?

by Staff reporter | 21 June 2018 | 189 Views

WATCH: Zanu PF, MDC Alliance square off in TV debate

by CNBC Africa | 21 June 2018 | 148 Views

Woman to contest DNA test for 3rd time

by Staff reporter | 21 June 2018 | 157 Views

MTN increase LTE coverage and download speeds

by MyBroadband | 21 June 2018 | 101 Views

Mutsvangwa booed, storms out of debate

by Staff Reporter | 21 June 2018 | 212 Views

#ChinamasaChallenge a hit on Twitter

by Ndou Paul | 21 June 2018 | 178 Views

Teachers slam Mnangagwa

by Staff reporter | 21 June 2018 | 147 Views

Spot FM Zimbabwe change name to Classic263

by Ndou Paul | 21 June 2018 | 127 Views

Zuma warned Chamisa against pact with Mugabe

by Staff reporter | 21 June 2018 | 257 Views

Mugabe's health condition 'is nothing serious'

by AFP | 21 June 2018 | 118 Views

Mukupe ordered to return journalist's cellphone

by MISA | 21 June 2018 | 103 Views

URGENT: Zimbabweans who worked for Wenela eligible for compensation

by Staff reporter | 21 June 2018 | 125 Views

Cleansing ceremony for Gweru- Kwekwe highway black spot

by Staff reporter | 21 June 2018 | 165 Views

.Man hangs self in neighbour's yard

by Staff reporter | 21 June 2018 | 205 Views

Peter Ndlovu's story told in World Cup advert

by Staff reporter | 21 June 2018 | 215 Views

Banks set to cut transaction costs

by Staff reporter | 21 June 2018 | 179 Views