Zimbabwe Dollar Falls At First Ever Weekly Forex Auction

By Staff Reporter
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67928
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June 24, 2020

Zimbabwe conducted its first weekly foreign currency auction on Tuesday with the local dollar trading at an average of 57.3582 to the U.S. dollar, ending a fixed exchange rate of 25 in place since March.

The southern African country reintroduced its local currency last year after a decade of official use of the U.S. dollar in the economy. But the local currency rapidly lost value, sending prices rocketing and raising fears of renewed hyperinflation.

Since the end of dollarisation, the government has flirted with a managed float exchange rate, which it announced on March 11, before fixing the exchange rate at 25 Zimbabwe dollars to the U.S. dollar on March 26, citing the need to support the economy against the COVID-19 pandemic.

The new foreign currency auctions were announced last week after exporters complained that the fixed exchange rate was hurting them. Their costs were based on a black market rate that was significantly weaker than the official rate.

During Tuesday’s inaugural weekly auction, bids amounted to US$11.4 million, while US$10.3 million was made available. The lowest bid was 25 Zimbabwe dollars for one U.S. dollar and the highest reached 100 Zimbabwe dollars for one greenback.

Sources of foreign currency for the auction market include part of the export proceeds retained by the central bank, export earnings, remittances and credit from unnamed international banks.

The bulk of the funds sought by bidders through the auction system was to support imports of raw materials, machinery and equipment as well as food and beverages, according to a central bank notice.

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Addiction Treatment Centers: What Families Should Know Before Choosing Rehab

Choosing an addiction treatment center is a major decision for families. Addiction affects health, relationships, finances, work, and emotional stability. The right treatment program can help a person begin recovery with professional support.

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Treatment options vary. Some people need inpatient rehab, where they live at the facility and receive structured care. Others may choose outpatient treatment, where they attend therapy while continuing to live at home.

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Inpatient treatment may be helpful for people with severe addiction, unsafe home environments, repeated relapse, or co-occurring mental health concerns. Outpatient care may work for people with strong support systems and less severe symptoms.

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Detox may be necessary before treatment begins, especially for substances that can cause withdrawal symptoms. Medical detox helps manage withdrawal safely under professional supervision.

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A quality treatment center should offer individualized treatment plans. Addiction recovery is not one-size-fits-all. People may need therapy, group counseling, medication-assisted treatment, mental health support, family counseling, and relapse prevention planning.

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Families should ask about licensing, staff qualifications, treatment methods, medical support, aftercare planning, and insurance coverage.

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Cost is an important concern. Some rehab centers accept private insurance, Medicaid, or payment plans. Families should verify coverage before admission to avoid surprise bills.

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Aftercare is one of the most important parts of recovery. Treatment should not end when a person leaves the facility. Ongoing therapy, support groups, sober living, and relapse prevention can help maintain progress.

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Families should avoid programs that promise instant cures. Recovery takes time, honesty, and support.

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The best addiction treatment center is one that treats the whole person, not just the substance use. With the right care, recovery is possible.

Personal Injury Settlement: How Claims Are Valued and Negotiated

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Personal Injury Settlement: How Claims Are Valued and Negotiated

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Most personal injury cases settle before trial. But settlement value is not random.

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Insurance companies look at evidence, liability, medical treatment, lost wages, policy limits, injury severity, and legal risk. Injured people should understand what goes into a settlement before accepting an offer.

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A quick settlement may feel helpful, but it may not cover future medical care or long-term losses.

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What Is a Personal Injury Settlement?

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A settlement is an agreement to resolve a legal claim. The injured person usually receives compensation, and in exchange, signs a release giving up the right to pursue additional claims from the same incident.

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That release is serious. Once signed, the case is usually over.

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What Affects Settlement Value?

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1. Liability

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The stronger the evidence that the other party was at fault, the stronger the claim may be.

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Liability evidence may include:

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Police reports
rnPhotos
rnVideos
rnWitness statements
rnExpert analysis
rnCompany records
rnSafety violations

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2. Injury Severity

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More serious injuries often lead to higher damages.

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Examples include:

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Broken bones
rnSurgery
rnPermanent impairment
rnTraumatic brain injury
rnSpinal injury
rnSevere burns
rnLong-term disability

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3. Medical Bills

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Medical expenses are a major part of many claims.

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These may include:

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Emergency care
rnHospital bills
rnSurgery
rnPhysical therapy
rnMedication
rnSpecialist visits
rnFuture treatment
rnMedical equipment

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4. Lost Income

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If you missed work, lost overtime, used vacation time, or cannot return to the same job, wage losses matter.

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5. Pain and Suffering

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Pain and suffering may include physical pain, emotional distress, reduced quality of life, and loss of enjoyment.

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6. Insurance Coverage

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Even strong claims can be affected by available insurance limits.

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Why Insurance Companies Make Low Offers

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Insurance companies may offer less because they dispute:

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Fault
rnInjury severity
rnMedical necessity
rnTreatment length
rnPre-existing conditions
rnLost wage proof
rnFuture care needs
rnPain and suffering

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They may also hope you accept before knowing the full extent of your injuries.

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Should You Accept the First Settlement Offer?

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Usually, you should be careful.

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Before accepting, ask:

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Have I finished medical treatment?
rnDo I know my future medical needs?
rnHave lost wages been calculated?
rnAre all bills included?
rnDoes the offer cover pain and suffering?
rnWhat rights am I giving up?
rnAre there liens or medical bills to repay?

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A settlement should be reviewed carefully before signing.

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What Is a Demand Letter?

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A demand letter is a formal letter sent to the insurance company requesting settlement.

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Facts of the accident
rnLiability argument
rnMedical summary
rnMedical bills
rnLost wage calculation
rnPain and suffering explanation
rnSupporting documents
rnSettlement demand

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A strong demand letter is organized, evidence-based, and clear.

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How Long Does Settlement Take?

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Settlement timing depends on:

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Medical treatment length
rnInsurance investigation
rnLiability disputes
rnCase complexity
rnPolicy limits
rnNegotiation speed
rnWhether a lawsuit is filed
rnCourt schedule

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Cases with serious injuries often take longer because future damages must be evaluated.

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Medical Liens and Settlement

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Some medical providers, insurers, or government programs may have repayment rights from a settlement.

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Before spending settlement money, understand:

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Medical bills
rnHealth insurance liens
rnMedicare or Medicaid liens
rnWorkers’ compensation liens
rnAttorney fees
rnCase costs

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Final Thoughts

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A personal injury settlement should reflect the full impact of the injury, not just immediate bills.

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Before accepting any offer, make sure you understand your medical condition, future needs, lost income, liens, and legal rights.

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A personal injury lawyer can help evaluate whether a settlement offer is fair based on the evidence.