multi-currency system

The Zimbabwe Revenue Authority (Zimra) says it is experiencing teething challenges in its tax levying systems as a result of the ongoing transition from the use of the multi-currency system to mono-currency.
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President Emmerson Mnangagwa has threatened to come down hard on shops that are refusing to slash prices after his government last week dumped the decade-old multi-currency system and re-introduced the Zimbabwe dollar as the sole legal…
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Since the turn of the new millennium, Zimbabwe's economy has been on a downward trajectory, characterised by hyperinflation, chronic unemployment and soaring national debt levels.
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A growing number of public institutions, businesses and individuals are beginning to abandon the use of the South African rand, with the value of the neighbouring currency continuing to weaken.
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