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Premiums set to nosedive gradually

by BustopTV

By Lloyd Takawira

The injection of new notes and coins into the economy is set to improve the liquidity crisis .

After a long decade of absenteeism the Zimbabwean dollar made its way through the backdoor as the monetary authorities were at sixes and sevens to bring it back .

Cashvists in Harare yesterday bemoaned the release of new notes by the Reserve Bank of Zimbabwe (RBZ) , saying the move has killed their business.

This reporter visited areas such as Magaba , Mbare musika were premiums being charged for cash had significantly dropped from 40% to 20%

A cash baron who spoke to this reporter had this to say ” nhasi basa riri low , ma rates tatidzikei kubva Ku 40% to 20% “

Another cash baron stationed in the CBD downtown area however said “aa this only short lived , plus stock tatonayo saka even ma rates akadonha cash yacho tisu tinayo”

This reporter also witnessed that cash barons were already trading in new notes a situation that might render the cash injection a foregone conclusion.

Economic analyst warned before that bringing the Zimbabwe dollar without the right fundamentals is tantamount to bring back the economy to 2008.

It however remains to be seen how the Zimbabwe dollar will fare .

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