Mthuli: The Future Of The Zimbabwe Dollar Is Bright

Finance and Economic Development Minister Mthuli Ncube said that there was no going back on the use of the Zimbabwe dollar, adding that the local currency has a bright future.

Ncube said this while responding to questions during a meeting with Bulawayo businesspeople at the Zimbabwe International Exhibition Centre on Friday. He said:

The future of the Zim dollar is bright, you are abusing it, we will use it. And as Government and together with you the private sector, I believe we’re on the right track.

In June, the government moved away from the US$1: ZWL$25 fixed exchange rate by introducing the weekly Foreign currency Auction Trading System.

Following the introduction of the Foreign Currency Auction System, the exchange rate has continued to fall nestled at US$1:72,14 this week.

On Friday, the government gazetted Statutory Instrument 185 which stipulates that any person who provides goods or services in Zimbabwe shall display, quote or offer the price for such goods or services in both Zimbabwe dollar and foreign currency at the ruling exchange rate.

More: Chronicle

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