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Weekly economic bulletin
Crisis in Zimbabwe Coalition
August 30, 2007

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1.0 Summary of economic highlights

a) Zimbabwe dollar collapses on the parallel market

This week the Zimbabwe dollar continued to weaken against major currencies in the market. The Zimbabwe dollar slumbered from ZWD 190 000 for USD 1 to ZWD 230 000 to USD1. The exchange rate crashed by a marked 17.39%.

Analysts maintain that the parallel market will continue to flourish, as it is offering incentives to suppliers to produce more for the parallel market. The weakening of the dollar on the market will increase inflationary pressures on the already suffocating economy.

The Weekly Economic Bulletin team predicts that the Zimbabwe dollar will continue to weaken against major currencies as firms and household continue procuring the scare commodity from the grey markets for import and export operational activities.

b) Inflation galore

The Central Statistics Office was this week forced to disclose the year-to-year monthly inflation levels, which the institution has been suppressing for more than two months. The Zimbabwean inflation level is officially pegged at 7 634.8%. Zimbabwe's inflation level is the highest in the world. The inflation level lapped from 7 251.1% in June 2007.

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