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Samson » September 18th, 2019
Zimbabwe's currency has lost 82% of its value since February
18th September, 2019
The currency of Zimbabwe has witnessed strong losses recently despite the measures taken by the government and the central bank to cope with the decline, which reached 82 percent since February
The Zimbabwe dollar fell from 2.50 to 13.52 per US dollar, equivalent to a loss of 82 percent and makes it the worst performer in the world, after Venezuela, which faces hyperinflation, according to Bloomberg
The losses came from last February, when the government decided to launch a new currency "RTS GS" that would be equivalent to the US dollar
But in June, the Zimbabwean government decided to revert its currency to the Zimbabwe dollar and ban the use of foreign currency after it was abandoned in 2009 to counter hyperinflation
To cope with continued currency losses and curb inflation, Zimbabwe's central bank decided to raise interest rates by 20 percent to 70 percent, the largest in the world after Argentina
That may not do much for consumption in an economy the International Monetary Fund says will shrink 2.1 percent this year, but Zimbabwean officials believe it is necessary to slow inflation
Zimbabwe is suffering from 230 to 570 percent inflation, according to analysts' estimates. Official data have not been released since February LINK
Don961 » September 18th, 2019
Trump adviser: Washington and Tokyo may sign a trade deal this month
18th September, 2019 - Updated
Economic adviser to US President Donald Trump said that the United States and Japan will hold a summit next week may sign a trade agreement
President Donald Trump's economic adviser, Larry Kudlow, said at a conference of US-Japanese companies on Tuesday that he was not surprised that the United States and Japan had become more close as they negotiated a trade deal
"Trump and Prime Minister Shinzo Abe will hold a summit next Wednesday," Kualdo said
President Trump's economic adviser expects leaders of the two countries to sign an agreement on the sidelines of the summit at the UN General Assembly at the end of this month
However, the official did not mention the new US tariffs on Japanese cars, which are the focus of bilateral trade negotiations
The US president announced this week that the United States has reached preliminary agreements with Japan on tariff barriers and digital trade, and Trump stressed that his country will continue to conduct further trade negotiations with Japan LINK
Source: Dinar Recaps
______________________________________________________
If you wish to contact the author of any reader submitted guest post, you can give us an email at UniversalOm432Hz@gmail.com and we'll forward your request to the author.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © 2019 Dinar Chronicles
Samson » September 18th, 2019
Zimbabwe's currency has lost 82% of its value since February
18th September, 2019
The currency of Zimbabwe has witnessed strong losses recently despite the measures taken by the government and the central bank to cope with the decline, which reached 82 percent since February
The Zimbabwe dollar fell from 2.50 to 13.52 per US dollar, equivalent to a loss of 82 percent and makes it the worst performer in the world, after Venezuela, which faces hyperinflation, according to Bloomberg
The losses came from last February, when the government decided to launch a new currency "RTS GS" that would be equivalent to the US dollar
But in June, the Zimbabwean government decided to revert its currency to the Zimbabwe dollar and ban the use of foreign currency after it was abandoned in 2009 to counter hyperinflation
To cope with continued currency losses and curb inflation, Zimbabwe's central bank decided to raise interest rates by 20 percent to 70 percent, the largest in the world after Argentina
That may not do much for consumption in an economy the International Monetary Fund says will shrink 2.1 percent this year, but Zimbabwean officials believe it is necessary to slow inflation
Zimbabwe is suffering from 230 to 570 percent inflation, according to analysts' estimates. Official data have not been released since February LINK
Don961 » September 18th, 2019
Trump adviser: Washington and Tokyo may sign a trade deal this month
18th September, 2019 - Updated
Economic adviser to US President Donald Trump said that the United States and Japan will hold a summit next week may sign a trade agreement
President Donald Trump's economic adviser, Larry Kudlow, said at a conference of US-Japanese companies on Tuesday that he was not surprised that the United States and Japan had become more close as they negotiated a trade deal
"Trump and Prime Minister Shinzo Abe will hold a summit next Wednesday," Kualdo said
President Trump's economic adviser expects leaders of the two countries to sign an agreement on the sidelines of the summit at the UN General Assembly at the end of this month
However, the official did not mention the new US tariffs on Japanese cars, which are the focus of bilateral trade negotiations
The US president announced this week that the United States has reached preliminary agreements with Japan on tariff barriers and digital trade, and Trump stressed that his country will continue to conduct further trade negotiations with Japan LINK
Source: Dinar Recaps
______________________________________________________
If you wish to contact the author of any reader submitted guest post, you can give us an email at UniversalOm432Hz@gmail.com and we'll forward your request to the author.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © 2019 Dinar Chronicles
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