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Financials

Zimbabwe's new currency drops 31% after fuel subsidy ended - traders

HARARE, May 21 (Reuters) - Zimbabwe’s RTGS dollar currency on Tuesday traded 31% weaker against the U.S. dollar on the official interbank market, its biggest one-day fall since Feb 22, traders said.

The slide came a day after the central bank announced an end to a subsidy on fuel imports and said oil companies would now buy U.S. dollars on the open interbank market at the prevailing exhange rate. (Reporting by MacDonald Dzirutwe; editing by John Stonestreet)

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