Price Increases Due To Lack Of Foreign Currency: CZR

In an interview with The Chronicle, Confederation of Zimbabwe Retailers (CZR) president, Mr Denford Mutashu said the recent price increases are a result of lack of foreign currency.

He said companies are increasing prices because they are converting their bond notes to US dollars on the black market. Said Mutashu:

The US dollar is now scarce and not much is being produced locally. As a result, companies are converting their bond notes to US dollars at a higher rate. Manufacturers experience a hidden cost. They have to recover those costs along the chain. The end user is the one that feels it all.

Also Read:

More: Chronicle

Join WhatsApp & Telegram News Groups:

WhatsApp Group: https://chat.whatsapp.com/It6VUwjAcFF87NoV6qb2xW

Telegram Group:

Back to top

Write a Comment

Your email address will not be published.

Share Full Post

Nyaradzo logo

RSS Recent Profiles Created