The Finance Minister in an interview with the Sunday Mail said the Zimbabwean currency is competitive with other regional currencies right now as he answered questions about the economy.
Mthuli was responding to this question:
The local currency has been losing value even after the introduction of the interbank foreign exchange market. What is your comment on this continued decline in value of the local unit and its attendant harmful impact on the economy?
When he said:
It is imperative that we maintain a competitive currency. Where it stands now, the currency is competitive within the region. It is at 1:1 with the (South African) rand and not far from the (Botswana) pula and the (Zambian) kwacha. We did not have this before. We want to protect the currency and make sure that we have a stable currency. By the way, our currency has helped to improve competitiveness of our exports because when we were 1:1 with the US dollar, we were not competitive.
More: Sunday Mail
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