Exchange rate disparities hit Seed Co

SEED CO says its profit margins have been dampened by the growing gap between the official and parallel market exchange rates.
This comes as a number of businesses, including RioZim and Ariston Holdings (Ariston), have suffered the same fate due to the country’s currency disparities and “harsh” exchange controls.

The Reserve Bank of Zimbabwe’s auction system closed for the holidays a fortnight ago with the rate at US$ 1:108,7 ZW$ — a discount of between 80 to 100 percent relative to rates on the grey