…as CZR throws weight behind RBZ
Zimbabwe’s central bank, the Reserve Bank of Zimbabwe, says claims that it will soon stop use of the United States dollar for transacting in the economy is “false”.
Use of the US dollar as legal tender was reintroduced last March by the monetary authorities “to make transacting easy during the Covid-19 pandemic” after it had been banned following the re-introduction of the Zimbabwe dollar in June 2019.
In a statement today, the central bank governor Dr John Mangudya said:
“The Bank has noted with serious concern the continued circulation of false and malicious articles on social media alleging that Zimbabweans will no longer be able to pay for goods and services in foreign currency, particularly one article captioned:
‘Foreign currency no longer legal tender’.
“These articles and statements are false and should be treated with the contempt they deserve, as there is no policy or law that prohibits the use of foreign currency in Zimbabwe as alleged.
“The articles are at the behest of irresponsible, mischievous and malicious people who are always bent on purveying false statements calculated to cause unnecessary anxiety, panic, alarm and despondency within the economy.
“The statements are also calculated to discredit Government and the Bank’s progressive efforts and achievements in stabilising and growing the economy.
“The Bank wishes to reiterate that the public can pay for goods and services in local currency or foreign currency in accordance with the laws of the country and that they should ignore the malicious rumours being circulated on social media.”
The Zimbabwe dollar is currently trading at $85 against the US dollar at the official auction rate.
Market players have put their weight behind the apex bank.
“The Confederation of Zimbabwe Retailers wishes to affirm and reiterate that the use of foreign
currency (USD$ or ZAR) is still permissible.
“There is no policy that has outlawed the use of forex in Zimbabwe. The transacting public can still pay for goods and services in the currency of their choice, either local currency or
Foreign currency anywhere in the country,” said CZR president Denford Mutashu.
“Reports circulating on the social media to the contrary are simply malicious and untrue. The retail and wholesale sector will support government efforts to stabilize the economy, inflation and general pricing across sectors.
“The continued engagements between government, business and labor are not only progressive but noble as we collectively pursue the economic growth agenda towards vision 2030.
Mr Mutashu urged business community to remain responsible in its pricing.