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We Can No Longer Have A Currency Which Is Driven By Foreigners

We Can No Longer Have A Currency Which Is Driven By Foreigners

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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23 Comments

Nimrod 1 week ago

Shut up motormouth!


Sixpence 1 week ago

Nimrod usanetseke naChris Mutsvangwa. Mwana wake Nigel muChange Money akazadza bedroom nemaYuwesi, saka van Mutsvangwa vatori bhooo

Asalif 1 week ago

So there will be no international trade and to be precise does our currency being recognized at the world money market ?? It's a no , that is why you can't buy anything abroad online using PayPal and other online payment platforms . Pafungei zvakanaka VaMutsvangwa or just shut up if you don't know about finances


Sabhuku 1 week ago

Command Economy haishande.
Kana ku Agriculture makazvitadza what more kumari. Kana vachiti ari learned vakadzidzeyi chaizvo? SMH

The King of Serpents 1 week ago

@Asalif, taura hako iwe, tirikushaiswa mikana yakawanda yekuzvishandira because of lack of PayPal full functionality in Zimbabwe. Ndosaka ma armed robberies arukuwanda these days.

Citizen raPep naChamisa 1 week ago

I agree with this point.every country which uses it’s own currency 💴 has success economically.However make sure you revive industry in Zimbabwe and export enough to make other countries demand our currency e.g marunner mutown they buy cheap stuff in Jozi and bring them here,I’ve never heard of someone who comes from Tanzania,Botswana to buy stuff from Zimbabwe,WHY? No industry .


The King of Serpents 1 week ago

Industry inodiwa zveshuwa. Chinondirwadza ndechekuti we used to have industries in Zimbabwe but ikozvino, if you go to those sites, you'll only find weeds and rusty infrastructure.

Nimrod 1 week ago

You are correct about improving productivity. But in the short term, while you sort out runaway hyperinflation, unsustainable lending rates, swallow your pride and adopt the US$

Betting Syndicate 1 week ago

Chris Mutsvangwa is not going to survive another 2 months as ZANU Spokesman.

Taking bets at 10:1


Tawanda 1 week ago

😂😂😂

CCC 1 week ago

2030 anenge achipo, two months dzaurikutaura dzikadarika ndikuuya kuzotora mari

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🤔 1 week ago

The blame goes to sunctions I can say !! So what Mr Mutsvangwa is saying matches what Mr Mnangagwa says in New York e.g ( notable economic growth despite the sunctions ) if I keep on tracing
1.One the idea is good but who is doing it there comes a problem. ( Nyika inovakwa nemari yayo = ✓✓ )
2.A good leader leads by example why the big boys enjoys their lives using foreign money and convince the rest to believe in real time gross settlement , ndoZim $ handiti . Hameno!!
3.Is the words sunction and corruption means the same ? Because truely speaking I also need the two to go like what I always heard big boys calling SANCTIONS MUST GO .
So panoimbwa kuti sunctions must go ini ndibvumirewo kti necorruption .


zim dollar marara 1 week ago

dai mari yenyu yaitenga better sorry kwazvo izvo zvima bond zvipepa zvinoenda nemhepo woe to this party only zim uses fake money iwo ma bond enyu asingatenge awa


ED Shweeee 1 week ago

You must be grateful to ZANU because these RTGS are multi purpose. Those that rin out of toilet paper can use them. Pity that after Beit Bridge South African authorities specifically refuse use of Zimbabwean currency as toilet paper in their loos.

Children can also use these as building blocks in their playgrounds. To housewives, when there's no electricity they can use RTGS to start their fires when using firewood.

GF 1 week ago

Mutsvangwa syndrome: Talf first and think latter. kkkkk


GF² 1 week ago

Shoot first, aim later 😁

O_O 1 week ago

If you say Chamisa is a blabbermouth then you mister mutsvangwa are an illiterate ignorant ancient relic. These statements can actually topple your zwl. The masses will react to this by actually demanding more usd over zwl


Ncch 1 week ago

Ndosaka tichiti regai mukomana apinde shua


Bonzo 1 week ago

Corruption maregera here nhai vakuru Corruption ndiyo yakauraya nyika ino Sanction rakazouya maba nemhutwa nemhutwa dzorai zvamakaba nyika inake


King 1 week ago

What does ZWL stand for? Anozivawo purizi


james bond 1 week ago

the leadership of a country is defined by its currency and the rest of the people by their beliefs


james bond 1 week ago

mutsvangwa was in washington , was he using yo zwl nehanda n kaguvi bond notes


Sabhuku 1 week ago

Uyu anorwara uyu!
RTG (as said by ED) can't transact beyond the border zvatpdhakwa.



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