Hwindi has just introduced a pricing structure. From now on, the ride-hailing start-up quotes it’s prices in USD but the rides will be payable in Zim Dollars. To introduce the the pricing structure, Hwindi took advantage of a provision in the Public Procurement and Disposal of Public Assets Act that allows businesses to quote prices using a “stable currency” and then get paid with the only legal tender, which is Zim Dollar.
Essentially, your bill for a Hwindi ride will be presented in US Dollars but when it comes to paying it up, you will use Zim Dollars. The amount paid in Zim Dollars will be determined by the prevailing rate of exchange of USD to Zim Dollars on the interbank market. For instance, if the Hwindi app tells you that your journey cost $4 US Dollars, using Agribank’s today’s rate of $14.251 per US Dollar, you will pay ZWL $57.
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This new pricing structure allows Hwindi to sidestep the hussle of having to tweak it’s prices every now and then as US Dollars’ value is more stable than Zim Dollars.