“Zimbabwe’s stock market is up 800% this year as investors seek shelter from blistering 176% inflation rate”
July 4, 2023
“
- Zimbabwe’s stock market is up roughly 800% in 2023, the world’s biggest rally.
- The rally has taken shape as the country’s annual inflation is up 176%.
- Local investors are turning to the stock market to protect their cash from devaluing
…
But in a country that’s seen its share of economic crises, there’s little reason to cheer. Local investors have piled into stocks in the hope of protecting the value of their cash as inflation hit 176% in June. The central bank’s primary lending rate is now hovering at 150%, the world’s highest…
Hyperinflation has plagued Zimbabwe’s economy for over a decade, ravaging the country’s currency. The Zimbabwe dollar has plunged this year, losing more than 80% in the last two months alone, and continues to fall…”
https://finance.yahoo.com/news/zimbabwes-stock-market-800-investors-220813272.html