Residents of the city of Mutare have embraced the return of the Zimbabwe Dollar following the introduction of Statutory Instrument (SI) 142 of 2019 announced by the government on Monday.
SI 142 of 2019 scrapped the multi-currency regime while bringing back the Zim Dollar which was ditched 10 years ago at the height of world-record hyperinflation.
Itai Mutetwa, a Mutare resident who spoke to the Manica Post said:
We are relieved because some businesses were abusing us, especially in pharmacies. We were being forced to buy drugs the elusive USD.
It had become difficult for us, and we are happy that the government has come to our rescue. Goods and services were being rated in the greenback, which was not fair to those earning salaries in RTGS.
Another resident, Memory Chitiga, of Dangamvura told the same publication that she hopes that the new policy will lead to price reductions. She said:
We hope that prices that were being rated in USD would fall drastically. The goods and services were being priced beyond the reach of many. We hope business will embrace and adhere to the new currency measures.
Confederation of Zimbabwe Retailers president Denford Mutashu lauded the scrapping of the multi-currency system as it posed an existential threat to consumers who were earning RTGS Dollars while goods and services were being priced in foreign currency.
More: Manica Post
Quick NetOne, Telecel, Africom, And Econet Airtime Recharge
If anything goes wrong, click here to enter your query.
Zimbabwe RTGS Dollars are a Zimbabwean currency introduced on 20 February 2019 by the Reserve Bank of Zimbabwe. At introduction, the currency consisted of existing RTGS balances in bank accounts, Bond Notes cash and Bond Coins. The introduction of the RTGS Dollars was announced by... Read More About RTGS Dollars