Insurance sector records brisk forex business

ZIMBABWE’S insurance sector is recording an uptick in foreign currency business as the market now prefers a more stable currency to avoid more frequent reviews of policies priced in local currency, NewsDay Business can report.

Weighted annual inflation for both the United States dollar and Zimbabwe dollar eased from 101,5% in January this year to 87,6% at the end of the first quarter of this year.

Monthly inflation decelerated from 0,7% in January to -1,6% in February and 0,1% in March.

This story is for NewsDay subscribers.