OK sees increased ZWG collections

RETAILER, OK Zimbabwe (OK) has seen a drop in its foreign currency sales in favour of Zimbabwe Gold (ZWG) trades since the local tender’s introduction in April, it has been revealed.

After Zimbabwe’s former local currency, Zimdollar (ZWL), had massively depreciated since its reintroduction into the market in June 2019, it was finally scrapped on April 5 for the ZiG, which is now being recognised internationally as ZWG.

The Reserve Bank of Zimbabwe moved to defend the ZWG in the market by arresting all parallel forex market dealers and fining companies using alternative foreign currency exchange rates.

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