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Traders: Zimbabwe's New Currency Drops 31% After Fuel Subsidy Ended


A motorcyclist with two jerry cans attached to his motorbike counts his bond notes at a fuel station in Harare

HARARE (Reuters) - Zimbabwe’s Real Time Gross Settlement (RTGS) dollar currency on Tuesday traded 31% weaker against the U.S. dollar on the official interbank market, its biggest one-day fall since Feb 22, traders said.

The slide came a day after the central bank announced an end to a subsidy on fuel imports and said oil companies would now buy U.S. dollars on the open interbank market at the prevailing exhange rate.

(Reporting by MacDonald Dzirutwe; editing by John Stonestreet)

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