Breaking: Zim Dollar is back!

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

What do you think about the return of the Zim Dollar?

14 Comments

  1. Kkk when everything in the shops is bought from outside using forex and nothing is being produced here……umh

  2. Comment…this currency will not change Zimbabwe’s situation,we will continue suffering

  3. Support you Mr President

    1. Gullible EDiot!

  4. this says alot about the people who are leading us.
    one man once told me,you might be very educated and yet you know anything.

  5. We need to Randarise (sp) and quick start this economy than to introduce a new currency.Can you imagine if we take just a million dollars and change that to Rands and inject that money into the economy how many billions is that.The so called osiphatheleni will disappear over night because they won’t have any money dealings. Besides, the new currency which is not supported by anything will only last for a few days before the same vultures bring it down to nothing again.Why can’t we take the easier root than this,I honestly don’t understand it

  6. “It will not work, We will not work. Simple!” Personally i think the quick introduction of this “New Currency” Is a way of trying to silence the Army which i hear were now demanding salaries in Forex… This however will have serious negative effect on Manufacturers that import raw material. The Multi Currency system was helping in the sense that industry was getting a bit of forex which they would then use to import raw materials and of course pay government taxes. Now industry has to go directly to the banks for forex which is not a walk in the park. The alternative being to source it from the black market, which in turn will mean further increase in prices and of course shortages!

  7. Unless we have discovered a very large stash of diamonds or gold, large enuf to create a big world rush for Zim. then this move ihapana hapana.

  8. Why did we abandon the Zimdollar in the first place? What has changed in the structure of the economy since then? If nothing has changed, we will quickly get back to the Bearer cheques, traveler’s cheques or whatever we called them back then! Infation sitting at 100%, the you introduce a currency not supported by any economic output! We cant even trade that ZWL outside the boarders, so how will we price the goods and services for export? in illegal currencies? Is ZWL tradable outside the boarders? How?

  9. Annetta Holmes

    This is a move in the right direction. Stabilise the currency. Allow companies to maintain their forex accounts so they can import business requirements. Zim has products it already exports, help strengthen these markets. Use some of the forex to pay off the country’s debt. Slowly the ship will turn.

  10. Kungo bvuma kuti takundikana zvinonetsa here? Mopa vanozvigona, shame.

  11. Marshal Mabaleka Sibanda

    This is a good move, 70% of our products are locally made so then why do we need to charge in US. Go to TM or OK most of their products are locally made except electronic goods. Those who charge in US do not pay their employees in US, so then why are you complaining. I am not being payed in US so the gvt is trying to accommodate and support Zimbabweans who are being affect by the business people who are pushing for their selfish interest.

  12. These guys are sick

  13. Emmanuel Mhondiwa

    Funny how most of the comments are purely political with not attempt whatsoever to look on the economics. The horse has already bolted out of the stables and we as Zimbos need to embrace this new currency to right the historical wrongs in our economy. I see someone is still suggesting use of the rand at this late stage.

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