This then creates a situation where those people with such urgent needs are willing to pay more than the official players to access the forex and those who hold it would feel better served selling to such individuals and entity.
Market Analysis
We have published the table above with zero figures for the parallel market because the central bank has declared that even being in a WhatsApp group in which the black market rate is quoted will cause them to grab you, shuckle you, throw you into the darkest jail cell and throw away the key. The authorities in Zimbabwe being as ridiculous as they are, they may just decide that just by reading the rate from a Techzim page you are now an exchange rate manipulator.
So, black what? When you buy one share of this company on any of the markets it is perfectly equal to a share bought on any of the others. Old Mutual is Old Mutual. Because there is a lot of interference in the way local Zim currency is valued, clever people just started to estimate the true value of the local currency using how much Old Mutual shares are worth on the different exchanges. This rate has nothing to do with Old Mutual or its management.
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It is just a computation that is done by some clever people who want a consistent way to measure the value of Zimbabwean currency. Where does the official rate come from? Where does the black market rate come from? Read: The 7 maybe 8 forms of money in Zimbabwe.
Exchange Rates
Latest economy News. The government is coming down hard on the informal sector.
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This records a decrease from the previous number of 0. The data reached an all-time high of 1, Explore the most complete set of 6.
Zimbabwe's manufacturing bullish on better forex, inflation outlook | Reuters
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