Home Politics WATCH: Zimbabwe Brings Back USD Transactions

WATCH: Zimbabwe Brings Back USD Transactions

Zimbabwe’s central bank, the Reserve Bank of Zimbabwe has announced new rules on foreign currencies, a move premised at unlocking $1.3 billion held in banks by exporting companies, individuals and international organisations.

In a circular released on Wednesday 24 July 2019, the RBZ said that Oil firms, chrome miners, embassies and international organisations in Zimbabwe can use foreign currencies for local transactions.

The government had, through Statutory Instrument 142 of 2019, banned the use of all foreign currencies for domestic transactions.

The SI also reintroduced the Zimbabwe dollar and made it the sole legal tender in the country. In the video below,

Tinashe of Equity Axis discusses the issue which some have viewed as policy inconsistency.

-Pindula news\ ZTN TV