"It's Inaccurate To Say The Zimbabwe Dollar Failed To Maintain Its Value." - Mangudya
Reserve Bank Governor, Dr John Mangudya (JM) has said that it is inaccurate that the Zimbabwe dollar failed to maintain its value since June when it was reintroduced.
He made the remarks during an interview with News Day Business reporter Tatira Zwinoira (ND) during which he said that the government was putting in place mechanisms to sustain the local currency.
The remarks come when the Zimbabwe dollar has been rapidly losing value against other currencies, particularly the United States dollar.
We present below excerpts from the interview.
ND: In trying to examine what went wrong with the Zimbabwean dollar as it has failed to maintain its value, what are your thoughts pertaining to the issue from the authorities’ side, as Reserve Bank?
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JM: I am not sure how the Zimbabwe dollar failed to maintain its value. That question presupposes that the authorities had made a statement on where the Zimbabwe dollar should settle. Where are you coming from yourself?
When you say it’s not getting its value, it sounds as if someone had told you that the Zimbabwe dollar was supposed to settle at a certain level which is not true.
More: News Day