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Zimbabwe: Country reportedly has only one day's supply of foreign currency left.

Asia Africa Intelligence Wire

| May 16, 2003 | COPYRIGHT 2003 Financial Times Ltd. (Hide copyright information)Copyright

(From BBC Monitoring International Reports)

site on 16 May

The government fuelled the plunge of the Zimbabwe dollar to an all-time low of 2,700 dollars to the US dollar on Wednesday [14 May] after it authorized dealers to buy foreign currency at "any rate" to help [state oil company] Noczim raise hard currency to pay fuel suppliers.

The dollar traded at 2,700 to the greenback at the close of business on Wednesday and 2,100 yesterday as it eased back on news that Noczim had secured another lifeline facility elsewhere.

There is also speculation that [state electricity company] Zesa began buying the South African rand at 250 Zimbabwe dollars …

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