Industry getting 60% forex from black market

Industry getting 60% forex from black market
Published: 17 May 2018
INDUSTRIALISTS and retailers are sourcing at least 60 percent of their foreign currency requirements from the black market, the Confederation of Zimbabwe Retailers (CZR) has revealed.

In the face of the persistent foreign currency shortage, CZR said government should consider adopting a local currency which is supported by "the right fundamentals" so that it does not lose value against major trading currencies as was the case during the hyperinflation era which intensified between January 2005 and January 2009.
- fingaz
Tags: Forex,


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