Zimbabwe Committed to Ending Zimdollar Volatility

The Reserve Bank of Zimbabwe held a crisis meeting with captains of industry on Monday at which they pledged a commitment to work closely in curbing the parallel market exchange rate volatility. <br />The central bank governor, John Mangudya says both parties acknowledged the positive economic achievements made so far which include year on year inflation reduction to end the year at 60,7% from 348,6% recorded in 2020 with local manufacturing production going to 80% of products on the market were locally produced. <br />Mnagudya says the Bank should continue fighting inflation through restrictive monetary policy and building foreign exchange reserves as a way of augmenting the defence of the value of the local currency.