Zimbabweans Recall Joyce Mujuru’s Warning On Local Currencies

Former vice president, Joyce Teurairopa Mujur, is among the people who castigated the government’s move to introduce the bond notes in late 2016. She claimed that the notes which were backed by US$200 million were useless and the government’s plan to defraud people of their real money.

A video clip which circulated in 2016 when she issued this warning has resurfaced. There are some who think her warning is still relevant now when the government has just reintroduced the Zimbabwe dollar.

The Reserve Bank of Zimbabwe’s Statutory Instrument 142 stipulates that the Zimbabwean dollar will be the only legal tender allowed for transactions within the Zimbabwean borders. It also clearly stipulates that all foreign currencies are no longer regarded as legal tender with effect from 24 June 2019.

This puts an end to the multicurrency system that was adopted in 2009 following the rejection of the original Zimbabwean dollar and the record high inflation that went as high as 231 million percent as per official statistics.

Watch the video below.

Bond NotesReserve Bank of Zimbabwe

Bond Notes are a currency of notes backed by a bond that the Zimbabwe government announced on 4 May 2016 by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya. The $2 denomination of the notes was finally introduced on 28 November 2016. More notes were... Read More About Bond Notes

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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