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"We Can No Longer Have A Currency Which Is Driven By Foreigners" - ZANU PF

Zimbabwe’s ruling party has hinted at plans to revert to using the local currency as its sole means of exchange saying “we can no longer have a currency which is driven by foreigners.”

Without giving timelines, Christopher Mutsvangwa, the ZANU PF’s spokesman, told reporters in the capital, Harare, on Wednesday:

What we are getting to is the domestication of the Zimbabwe currency. We can no longer have a currency which is driven by foreigners. It is good for the country because our relationship as Zimbabweans is determined by our currency.

The Zimbabwe dollar was abandoned in 2009 following hyperinflation, and the country began using mainly the US dollar. The local unit was reintroduced in June 2019 and the use of other currencies was outlawed, but that policy was reversed in April 2020.

Locals mainly use the Zimbabwe dollar to pay for bills and taxes, preferring to use the greenback for the bulk of other transactions.

The local unit has lost more than 80% of its value against the US currency this year. While the official and parallel rates have diverged widely, the differential has recently narrowed after the authorities instituted measures to close the gap.

The Treasury announced in June that the US dollar will remain legal tender in the country for the next five years, a decision that was meant to ease uncertainty over currency regulations.

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7 Comments

Tickey 6 days ago

maYuwesi aya aakuzoenda kuNMB zvachose manje. (NMB = National Mattress Bank).

Kuti Mutsvangwa anombotanga afunga here asati muromo?


cde Chipopi 6 days ago

uyuwo anozviti Mutsvangwa uyu, haana kana kutokwana chaiko. Mhanyisai look West policy cde Mutsvangwa muzofawo mune a credible legacy , kwete pfungwa dzekuita against nema British nema Americans zvisina kana brain


The King of Serpents 6 days ago

I support you. Takamboita look East but the Chinese, hapana chavarikutibennefiter nacho. Ndivo varikungogainer chete, vachitipa cheap quality goods, but isu tichivapa ma natural resources, Ari 100 percent quality.

mtt 6 days ago

Remember it was not a matter of choise kushandisa Usd but circumstances led us there. instability and inflation. solve economic issues first


mtt 6 days ago

choice


BOSS VEDAH 6 days ago

Mr. Blabblermouth


WILLIAM SONBOY CHINEMBIRI 5 days ago

It is difficult to understand what the blabbermouth is saying because while he says we are no longer going to continue using money which is controlled by others, Zimbabwe is deeply in use of American dollars.

If Christopher Mutsvangwa was saying we will continue using rtgs, then may God, Jehovah, help him !!!!! Rtgs have already been rejected by citizens.

May be Cde Blabbermouth, Christopher Mutsvangwa meant that Zimbabwe was now going to use gold coins during which time more gold coins, with less gold carats shall be produced.

I do not know which method he will use to stop the marauding United States of America dollar. They have arrested and jailed the money changers in the past, they have failed to stamp out the money changers.

[ VA MUTSVANGWA VANE MANYAUTSA MUKANWA EMHURU KUROTA ICHIYAMWA ].

[ CITIZENS NOW WANT REAL CHANGE AND NOT PSEUDO CHANGE ].

Yours sincerely
William Sonboy CHINEMBIRI
[ THE BUSH LAWYER ].



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