Zimbabwe Dollar

Zimbabwe’s government, which banned use of the dollar nine months ago, has restored the peg its currency had to the greenback due to a scarcity of foreign exchange.
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Finance minister Mthuli Ncube yesterday vowed that government will not take the Zimdollar out of circulation despite pleas by MPs across the political divide that it had brought suffering to Zimbabweans.
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The Zimbabwe Revenue Authority (Zimra) has ordered businesses trading in both Zimbabwe dollar and foreign currency to pay their taxes in foreign currency.
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Zimbabwean banks are set to lose millions after the Supreme Court ruled Tuesday that debts incurred before last February should be settled in the local currency at a rate at par with the greenback.
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Heralded by Zimbabwe’s central bank and its President Emmerson Mnangagwa as the answer to an acute cash shortage that has hamstrung the country’s economy, new low-denomination banknotes were due to enter circulation on Monday. But by…
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Zimbabwe’s central bank will introduce some notes and coins in the Zimbabwe dollar currency in the next two weeks, the latest step towards restoring the domestic currency, central bank governor John Mangudya said on Tuesday.
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By Professor Tony Hawkins Dollarisation 10 years ago could not have been more different. Inflation came to a shuddering halt, the economy returned to positive growth for the first time in a decade and a financial sector, ravaged by…
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President Emmerson Mnangagwa yesterday directed all businesses in the country to comply with the new monetary policy regulations as there is no going back on the use of the Zimbabwe dollar for all local transactions.
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Zimbabwe has increased the price of petrol and diesel by up to 26% after the finance minister raised import tax on fuel last week, adding more pressure on citizens grappling with tripple-digit inflation.
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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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