Reserve Bank of Zimbabwe governor John Mushayavanhu has announced drastic measures aimed at easing inflation pressures in the country.
In a statement issued to banks and bureau de change today, the central bank announced the new exchange rate of ZiG 24,3902 per US dollar.
The move is expected to reduce pressure on the domestic currency and help stabilise prices.
The ZiG was trading at 13,6 and 14 per US dollar since its introduction this year. The RBZ has adjusted the rate by 42,55 percent against the US dollar.
