Economic Watch: Zimbabwe's currency further tumbles against U.S. dollar

by Tafara Mugwara

HARARE, Jan. 17 (Xinhua) -- The cost of goods and services keeps on increasing in Zimbabwe as the local currency depreciates against the U.S. dollar, a trend that accelerated at the beginning of 2024.

The local dollar, which officially traded at 6,192 per 1 U.S. dollar on Jan. 2, is trading at 8,746 as of Jan. 17, according to the Reserve Bank of Zimbabwe daily exchange rate updates.