Official Exchange Rate Nolonger Sustainable: ZNCC

The Zimbabwe National Chamber of Commerce(ZNCC) chief executive Christopher Mugaga says the government should scrap the official policy that the bond notes and RTGS electronic balances are at par with the United States dollar. Mugaga had this to say

Zimbabwe’s bond note and RTGS 1:1 pegging against the US dollar is no longer sustainable. This is a confirmation that we are no longer dollarised as we were. What is now coming up is a local currency economy and we don’t expect a budget below $10 billion.

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