The Reserve Bank of Zimbabwe has with effect from 24 June 2019, banned the use of foreign currencies as legal tender.
According to Statutory Instrument 142 of 2019, the United states dollar, Botswana Pula and South Africa Rand are no longer legal tender in Zimbabwe.
Part of the SI reads:
Subject to section3, with effect from 24th June 2019, the British pound, United States dollars, South African rand, Botswana pula and any other foreign currency whatsoever shall no longer be legal tender alongside the Zimbabwe dollar in any transactions in Zimbabwe.
Also Read: FULL TEXT: RBZ Press Statement On RTGS$ & Interest Rates Following Band Of Multi-Currency
Read the full text below.
Great at least people can now sweat for their money, pfeeeeeeeeeeeeeeeeeee!!!!!!!!!!!1
Does it mean VID (eg coupons etc), Zimra (carbon tax etc) and Container Depot ( Sabot) charges at Beitbridge border post shall be paid in local currency as well for foreign registered trucks.
All duties to be paid in Forex
😳
That’s ridiculous. Where is one expected to get the duty in forex from?
It will not work ,it won’t work
We are in Zim it will be fair to use the currency we have not forex…
The reason there is no currency is simple economic activities are not sufficient enough to generate the required additional foreign currency. If you got US50 million worth of activities you can only print the local currency to that equivalent anything above that will make the local currency lose value
Well put . As long as we don’t have significant production levels we are wasting time. We will soon adding more zeroes and come to our senses again as in February 2009. Ma Cdes you have now worsened the situation economically.
You are the only one who said some sense here ….
pathetic, another waste of money when a new currency is printed. Someone at RBZ is making money out of this fiasco.
THIS IS JUST A PIECE OF SHITTTTTTTT
I’v checked the SI on the RBZ website and there is nothing which is mentioning this…its just a hoax
Unfortunately this ain’t a hoax. Check.
What measures are in place to make sure ithe new zim dollar doesn’t go the same route as the old one or its just a case of reinventing the wheel? Are we not going to see the printing of more so called zim dollar without necessary equivalent increase in economic activity??? Has conditions that led to hpyer inflation changed ?? If so what were these conditions and what specifically has changed?? Otherwise we not learning from our past mistakes.
If the Zimbabwean dollar is now the only legal tender how do you expect us to pay duty in forex if the multi-currency has been out-lawed.
KABOOOOOOM:- the bomb has just gone off, now lets wait to count the casualties
could things get any worse than this……. no ultimatum just outlawed with imeadiate effect……this is so unbelivable
People must not surrender their hard earned foreign currency.They want to fill their pockets in the name of introducing Zim dollar.They think we are stupid.They want to sweep all the foreign currency in the country to benefit them only to make the Zim dollar useless afterwards.Wake up people.You are not that stupid.
Eish!!!! This govt really is stupid. I would think that tomorrow there will not be one shop open for business. What does the new Zim Dollar look like? Will they be available tomorrow before opening hours? Why is Zimra the only outfit that is allowed to use forex as payment.?
there is nothing new here. they’re just avoiding the demand to pay civil servants in USD. they also should not be paid in fired nd must declare their assets. This is the real animal farm.
This govt is said to be better than the one in Heaven. so enjoy your paradise. ” member tekel ephasin “
Imame mame sure😎😎😎😎
This is fruitful. Using our local currency shows efforts in bid to mantain our country and no much of our raw materials will be wasted out in search of foregn currency. However, you must not ban the use of foreign totally but its value must not above our local currency.
I dont understand is that money so called Zim dollar on world market or what..
If the father cant aford to provide the house needs he will end up forcing kids to get married before get matured. Tozviziva kuti muri vamwe vacho bt apa pfungwa dzenyu dzasvika kumagumo kupererwa muchingotonga hapachatongeki
If poor countries like Mozambique use their local currency,why not Zimbabwe?If u want to be American please go to america.full stop .