The Reserve Bank of Zimbabwe is to introduce a new currency in November , a member of the bank’ s Monetary Policy Committee, said on Thursday .

Eddie Cross , a renowned economist , who made this known in an interview with State broadcaster Zimbabwe Broadcasting Corporation , said that the new currency would be introduced in a move set to curb current cash shortages in the country.
“ He commended President ( Emmerson) Mnangagwa for taking a bold decision to freeze accounts of companies suspected of fueling the instability of exchange rates , saying what is needed now is to act on such economic saboteurs , ” the broadcaster reported .

Zimbabwe’ s last currency , the Zimbabwe dollar , became moribund in 2009 following a spell of hyperinflation and was replaced by a basket of multi - currencies which included the U. S . dollar , the British pound, South African rand , Botswana pula , Japanese yen , and the Chinese yuan .

The U. S . dollar remained the dominant currency but became scarce over time and pushed the central bank to introduce bond notes and bond coins in 2016 to plug the resultant cash gap .
The bond notes and coins were at par with the U. S. dollar at their introduction but have over the years continued to lose value and are currently trading at around 14 to 1 U. S . dollar at the inter - bank rate.

The government also re - introduced the Zimbabwe dollar in June , although in electronic form , to run at par with the bond notes and RTGS dollars.
The government also banned the use of foreign currency as units of trade.

https://punchng.com/zimbabwe-to-introduce-new-currency-in-november/?fbclid=IwAR0y_JZXySmwrMpSbPGfXD_5ZwpiCNtZnExSyXiL2nOyzxgIEgK4DbNr41M

The only country today that has a central bank but has no currency.


The unfortunate land of Robert Gabriel Mugabe.


On 1989 when Rhodesia renamed Zimbabwe , was free and governed by Robert Gabriel Mugabe, many said that the time for Emancipation of Rhodesians has came.

Robert was if not the most educated president. He has Degrees, Oh yes he has Degrees but as years pass the man term a passionate revolutionist changed to what we don't know.


Many commentators said that ever since Sarah died and he married Grace... things has never been the same........I do not know...


Many said he became prisoners of his own comrade...


But all I can say that the dividend Mugabe acquired has been squandered on alter of politics..

The country Zimbabwe of yesterday is not same today.


I pray Mnangwagwa get it right this time.

Hope mugabes face go feature on the notes.

I pity that country though.
The new currency should be named after the Late Mugabe.

lol

Issorai

Better. Zimbabwe's former currency was so bad that a regular street barber in Nigeria would be a billionaire in Zimbabwe

Zimbabwen Dollars again

Current cash shortage yet they one do another one and e no go still equal 1$ Africa n misplaced priority make them use coins or cowries abeg

We IGBOS will introduce biafla currency � very soon �

I dey come,, Ⓜ️y container dey sea �, d ship ⛵ engine done spoil... We dey find boiz to push am

Economy tili eti

Ok

1,000,000, Zimbabwen note those days. The country and its leaders have a penchant for big currency notes.

A country where just a loaf of bread is 30,000zimbanwean dollars

Good. Hoping Zimbabwe gets it together this time. Their case has been bothering on shameful.

Meanwhile follow my signature if interested in making money through Fiverr

If they try change currency in this country and we are being told to bring our old note out that is where you will see revelations. Some set of people have hidden money of different denominations many years.

madenigga:
A country where just a loaf of bread is 30,000zimbanwean dollars

As in eeeehhhhh

New currency won’t curb their hyper inflation, what they need is new economic policy direction

So another currency will solve their economic problem


AFRICA !

That's nice

Long overdue

Y is Zimbabwe d only country in d world dat is confuse on which currency to use...
Wat is happening to Africa...



African am Proud to be One.

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