Full Text: RBZ Blames People Seeking To Manipulate Foreign Currency Rates For Statement On Return of Zim Dollar


Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has dismissed a statement circulating on social media announcing the re-introduction of the local currency from the 9th of July. Mangudya said that the statement was created by people wishing to profit on the foreign currency black market. In a statement, the RBZ said,


The Reserve Bank of Zimbabwe (the “Bank”) wishes to advise members of the public that an article being circulated on social media regarding the reintroduction of the Zimbabwe Dollar is false and malicious. The Reserve Bank of Zimbabwe dismisses the false article on the reintroduction of the local currency with the contempt it deserves. Members of the public should ignore the social media article which has apparently been created and circulated by people who seem bent on manipulating parallel market rates for personal gain at the expense of the unsuspecting members of the public. The article is also calculated to cause unnecessary anxiety, panic, alarm and despondency within the national economy.

The country will continue using the multi-currency system in line with Government Policy and the Bank shall continue to procure cash in foreign currency to support the multi-currency system.

The Bank would like to urge members of the public to use social media appropriately and not for spreading false news.

Dr J P Mangudya Governor

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John MangudyaReserve Bank of Zimbabwe

John Panonetsa Mangudya is an economist and the current Reserve Bank of Zimbabwe governor. Mangudya, who sits on many local and international boards .He was made RBZ governor after the expiry of Gideon Gono's term in 2014. He had been CBZ Holdings Ltd Chief Executive... Read More About John Mangudya

The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About Reserve Bank of Zimbabwe

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