Facing forex shortage, Zimbabwe black market traders patch up soiled dollar notes
By Reuters
29 January 2023 |
4:31 pm
Well-worn U.S. dollar notes are finding a new home on the streets of Harare, where they are bought at nearly half their value for resale at a profit after mending, as Zimbabweans find creative ways to survive an unrelenting financial onslaught.
In this article
Related
27 Jul 2022
Zimbabwe introduces gold coins as local currency tumbles.
28 Aug 2022
The Zimbabwean author has been facing trial for the past two years. The verdict is planned for August 26, while many more activists in the country face a similar ordeal.
29 Aug 2022
Twenty-year-old Mitchell Chivare hurriedly packs the kit, as she readies for the bat and ball game at a nearby school.
4 Sep 2022
Investing money into cattle is a growing business in Zimbabwe, where inflation is skyrocketing. Many people now consider it safer than putting money in the bank.
6 Sep 2022
A measles outbreak in Zimbabwe has killed over 150 children. The government has launched a mass vaccination campaign to contain the spread but faces stiff resistance from unvaccinated families due to religious beliefs.
18 Sep 2022
World Health Organization officials are concerned about Zimbabwe's current measles outbreak and the growing number of deaths. They hope that emergency response initiatives will help contain the spread and save lives.
27 Sep 2022
The dollar has been on a tear in recent weeks as investors take refuge in the safe haven amid recession worries. The pound and the euro have been pummeled, but the greenback's ascent could have wider ramifications.
31 Oct
Streets were quiet in the normally bustling heart of Accra's central business district on Wednesday as traders in the Ghanaian capital closed their shops to protest worsening economic conditions.
30 Oct
African painted dogs are classified as an endangered species. Right now there are only about 7,000 of them left on the continent. In Zimbabwe, a non-profit is reaching out to communities and hopes to protect the canines.
29 Oct
In Zimbabwe, unlike in other African countries, elephant conservation efforts have been successful. But the surge in numbers increases the chances of human-animal contact. The country is now seeing a rise in deadly elephant attacks, while Zimbabwean farmers complain that their crops are being destroyed. According to government statistics, around 10 people are killed every month by elephants.
30 Oct
Currencies are depreciating around the world and wreaking havoc on economies. But as the strong US dollar hits foreign demand, some American businesses are also experiencing painful losses.
25 Nov
Find these stories and much more when you grab a copy of The Guardian on Saturday.
Latest
1 hour ago
A review into Britain's largest police force has found "institutional racism, sexism and homophobia" and has called for "radical reform."
1 hour ago
Albert Ho, a prominent pro-democracy figure in Hong Kong, has once again been arrested. He is already facing up to a decade in prison for other charges under the national security law.
2 hours ago
Experts say the drop in oxygen levels in the water after the recent floods receded likely caused the mass death, as well as hot temperatures due to climate change.
2 hours ago
The French government's decision to force through its pension reform has sparked angry demonstrations across the country, with many videos of chaos in Paris circulating online. However, as credible as they may seem, some of these videos have been taken out of context, as Emerald Maxwell explains.
3 hours ago
On World Storytelling Day, we ask if this human art will be supplanted by articifial intelligence? Or do chatbots lack the human factor to recreate the drama and nuance of good storytelling?
3 hours ago
European shares logged their steepest weekly drop in five months amid continued turbulence in the global banking sector. German Chancellor Olaf Scholz doesn't think Europe is heading for a new financial crisis.