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The Sunday Mail reported that the central bank of Zimbabwe will meet with retailers on Tuesday.

The Financial Intelligence Unit of the bank will meet with retailers and manufacturers to discuss price increases on consumer goods.

There are concerns that some firms are drawing funds from the central bank's weekly foreign exchange auction but pegging prices to black market currency rates. It is helping to cause extortionate price rises for consumers.

The Business Lobby says price increases put Zimbabwe currency at risk.

The Zimbabwean dollar is the worst performing currency in the world. It is weaker on the parallel market where it is quoted between Z$600 and Z$800 per dollar.

The world's highest interest rate has been lifted to protect the currency. The country's annual inflation rose to 192% in June, its highest level in 13 months.

Retailers could lose their licenses if they refuse to accept local currency for purchases.