HARARE – International and regional currencies such as the rand, US Dollar, Botswana Pula and British Pound will no longer be acceptable in Zimbabwe as legal tender after the Finance Minister gazetted mandatory and sole usage of the Zimbabwe Dollar for all local transactions.
Zimbabwe has been using multiple currencies since 2009 when hyper-inflation ravaged the country’s local unit. In 2016, the central bank of Zimbabwe introduced bond notes which traded at par with the US Dollar but have quickly been losing value.
Earlier this year, Zimbabwe introduced a new currency, the RTGS$ with President Emerson Mnangagwa and the Finance Minister, Mthuli Ncube, saying in the past few month that Zimbabwe was set to have a substantive currency of its own. iol.co.za
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