Wed Sep 11 05:09:00 UTC 2024: ## Zimbabweans Forced to Use US Dollar as ZWL Shortage Bites

**Harare, Zimbabwe:** The Zimbabwean dollar (ZWL) is rapidly losing ground, forcing businesses and individuals alike to rely on the US dollar for daily transactions. A recent survey by Newsday found that retailers in Harare have stopped accepting ZWL, instead exclusively demanding payment in USD. This shift comes amidst a severe shortage of ZWL, causing the currency to plummet against the US dollar on the informal market, currently trading at between ZWL24 and ZWL28 per USD.

The ZWL shortage has also led to a spike in prices, forcing many Zimbabweans to seek refuge in the US dollar as a store of value. This trend is particularly evident in supermarkets, where basic necessities like flour and mealie-meal are becoming scarce. Retailers with limited supplies have even removed price tags in ZWL, further solidifying the dominance of the US dollar in the local market.

This situation highlights the precarious state of the Zimbabwean economy, struggling to stabilize its currency and control rising inflation. The reliance on the US dollar, though a temporary solution for many, raises concerns about the long-term economic viability of the country and its ability to control its own currency.

Read More