The Zimbabwe dollar has collapsed further - to an average 1 billion to the U.S. dollar. So much for the new interbank market. Talk about difficult to price instruments - inteerday quotes between 995 million and 1.45 billion against the dollar. Just to put that into perspective, it was at 700 million at the beginning of the week.
The Zimbabwe Stock Exchange (ZSE) industrial index neadless to say, with these levels of inflation, is at a new high above 900 billion points, from just over 1.2 billion points at the start of the year. We still maintain that in ten years, this economy, subject to certain leadership changes, will be one of the bright spots in Africa. One thing we can say with greater certainty is: it can't really get much worse!