No reprieve for Zimdollar

THE Zimdollar is projected to weaken further, while exports become more expensive relative to peers as the US Federal Reserve continues to raise interest rates, making the greenback stronger, a leading research firm has said.

The local currency has been losing value since the beginning of the year, forcing monetary and fiscal authorities to introduce several measures to give it a new lease of life.

However, in its equity strategy paper released last week, Inter Horizon (IH) Securities said the local currency would lose more value in the short to medium term despite the measures put in place by the government.

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