John Mushayavanhu, the new Reserve Bank of Zimbabwe Governor has announced that Zimbabwe dollars remain legal tender until further notice.
The governor announced during an interview on Star FM saying the old currency, which was due to expire on 30 April, can still be used for transactions.
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Dr Mushayabanhu explained:
“We are currently allowing them to co-circulate. And we will let the market know when the volumes of bond notes coming through have thinned out. We will then advise a date to say, ‘After such and such a date, we will no longer be accepting bond notes.’
“But for now, let them come through. We don’t want a situation where someone is sitting on bond notes and they are deep in the rural areas. We want to make sure that at the time we then announce, we will have collected as much as we can. Then we give a final deadline.”
The ZWL will operate along the ZiG, whose notes came into circulation on Tuesday, 30 April. Dr Mushayavanhu introduced the new currency on 5 April 2024.
So far, the highest denomination is 10 ZiG. There are also coins in circulation.
