multi-currency.jpgEconomic experts are calling upon government to solve the exchange rate discrepancy prevailing within the economy that have led to pricing distortions as well as eroding consumers’ purchasing power.

While the multiple currency system entails industry and households to use any of the major hard currencies, the major concern about the system is different rates being used which have also created confusion on pricing models.

An Economic Expert, Mr. Hudson Kaome says relevant authorities should solve the exchange rate disparities to facilitate accountability in the day to day business transactions.

What is also raising eyebrows in the market is the extent to which the US dollar is dominating transactions with some sections of the business community reportedly refusing to accept other monetary units.

 

An Economist, Mr. Washington Mehlomakhulu says the problem requires both the fiscal and monetary authorities to solve for the benefit of consumers and the economy.

Although the multiple currency system is being hailed by economic experts for restoring business confidence and stabilising macro- economic fundamentals, there still remain some grey areas which need to be corrected.

 

On the ground it appears the economy was dollarised, a development which has led to imported inflation.