Zimbabwe has not re-dollarised but is simply using dual currencies, the Deputy Minister of Finance and Economic Development Clemence Chiduwa has said.
Chiduwa made the remarks in Parliament while responding to questions from legislators during a question and answer session. He said:
What I would want to state is that we have not dollarized, what we have is the dual usage of the USD and the RTGS and the conversion of the USD should be done at the ruling auction rate.
Chiduwa added that local authorities are free to charge for services in US dollars but should not force residents to pay rates exclusively in foreign currency. He said:
In cases where local authorities would want to charge in USD, it should not be forced but it is allowed. What I would want to state is we have not dollarised.
What we have is the dual usage of the United States dollar and the RTGS and the conversion of the United States dollar should be done at the ruling auctioning rate.
This comes as small shops and individuals are increasingly demanding the US dollar as the currency of choice.