Is Zimbabwe’s bond note about to crash?
Harare – Here it is: the first hint that Zimbabwe’s bond note to US rate is about to start moving. And not in a good way.
A worsening forex squeeze since the introduction of Reserve Bank Chief John Mangudya’s bond notes in November last year mean that there is “a recipe for exchange rate pressure between bond notes and the dollar”, Zimbabwe’s Standard newspaper is reporting.
Mangudya and President Robert Mugabe’s government insist the bond note to US exchange rate is 1:1.
It has been, largely, in the last two months.