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Zimdollar Remains Legal Tender Until 30 April - RBZ

11 months agoWed, 10 Apr 2024 09:13:07 GMT
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Zimdollar Remains Legal Tender Until 30 April - RBZ

The Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu has reiterated that the Zimbabwe dollar remains legal tender for all domestic transactions until April 30, when the Zimbabwe Gold (ZiG) notes and coins will come into circulation.

This comes after some traders, public transport operators and members of the public, stopped accepting the Zimbabwe dollar notes in response to the introduction of the “structured currency”.

During a 2024 Monetary Policy Statement breakfast meeting in Harare on Tuesday, 09 April, Mushayavanhu said that Zim dollar notes remain legal tender, and banks can continue to dispense them to their customers. He said:

Between now and April 30, 2024, the bond notes are still legal tender; banks can pay them out to customers, and people should be able to use those to transact and for change. It is only after the 30th that we will be introducing the new notes and coins.

On Saturday, a day after he announced the launch of ZiG, Mushayavanhu said that the central bank will conduct an extensive educational and awareness campaign on the new currency’s structure and security features before the notes and coins are released on April 30.

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The central bank chief on Tuesday also sought to assure the public that ZiG was going to be a stable currency. He said the new currency had already started appreciating after gaining in Monday and Tuesday trading sessions on the interbank market. He said:

If you are a retailer and you put a 10 per cent margin, you are most likely to be outside the market. You cannot put 10 per cent on top of a stable exchange rate, so you are going to moderate yourselves.

If you do not apply it and take the interbank exchange rate, you are not flouting the law, but if you apply more than 10 percent, you will be above the official exchange rate of 13,50 ZiG and (You will be around) probably 14 ZiG, hence you will price yourself out of business and will not be able to sell your products.

Mushayavanhu said Statutory Instrument 185 of 2020 which authorises dealers and the market to price goods and services based on the prevailing interbank market rate plus a margin of up to 10 percent should be withdrawn.

More: Pindula News

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19 Comments

mtangadura · 11 months ago
AS LONG YOU CAN'T ZIG OUT FUEL FROM THE SERVICE STATION THE ZIG WILL BE ZIGGED OUT WITH NO TIME TO STAND ANTHING AS BENEFIT TO ANYONE
🧐 Asingade Z!G · 11 months ago
Bank anoriziva enda wonochengeterwa ma bond mapepa kubank hako mazvinzwa ka kuti Swipe ecocash zvichiri kuseenza mosiyana nezve kutakura mazi mari nemachangane bag
Rudo💅 · 11 months ago
zim dollar is trading at which rate
dhev**** rayo · 11 months ago
mar yedu inotenga zvakanaka kunge mauto muchitonga makabata mboma chaidzo mkasadaro vasngadi kt isimuke vanotiuraira economy saka mauto msatitarsa kumeso rovai dununu rizive
dhev**** rayo · 11 months ago
mar yedu inotenga zvakanaka kunge mauto muchitonga makabata mboma chaidzo mkasadaro vasngadi kt isimuke vanotiuraira economy saka mauto msatitarsa kumeso rovai dununu rizive
masigede · 11 months ago
dai vakaita introduce ma zig avo obva abuda kana mangwana acho,kusvika musi wa21 achange ari ma 1000 chaiwo
Yoyoyo · 11 months ago
😁😁good pionts my love
masigede · 11 months ago
bond harisisina arikutambira kuno ku Chitungwiza ,ini ndotengesa ma drinks ,ma super,ma cigar pamba $ rako pakufamba,$ 4 macigar takaenda,ndirikubva kunohodha izvozvi kwachikwanha hakuna arikurida
. · 11 months ago
ndiro dambudziko ratakasangana naro panguva yemabearer cheques akazenge ongoraswa semarara mabond kutaura kwatirikuitaso hapashai akazvimbiswa what guarantee is there that zig will not suffer the same fate other than the purported to be in existence gold reserves?
Zim-Sketch · 11 months ago
what a strategic way of removing zeros.....zero to hero in another version.
sad emoji1
🚶 · 11 months ago
Mari yakamira kudai 25 zig ---$1.50us 50 zig----$3.00us 75 zig ----$4.50us 100zig ---$6.00us 200zig----$12.00us 1000 zig--$60.us 2000zig---$$120 us 10 000zig -$600 us 20 000zig --$1 200us 100 000zig- $6 000 us 200 000zig - $12 000us 1ZiG = 6c 5ZiG = 30c 10ZiG = 60c 20ZiG = $1.20 50ZiG = $3.00 100ZiG = $6.00 Ndati ndiise table iyi pano zvichida ingabatsira vakawanda kunzwisisa mafambiro nemari itsva,painotanga kushandiswa hatizonyanyotambura kana kutorerwa nechitsotsi nevanenge vachiziva lsu tisati taziva. Mamukawo sei mose pano 🤝
Hhh · 11 months ago
As long as it cant buy fuel at the local service station, then its useless.
baba jukwa · 11 months ago
why is it $USA is 13. 50 at official rate but they claim it to be at 100ZiG for $6 saka kana 100 iri 6 ko dollar yazoita 13. 50 sei apo guys takuto birwa taka tarisa apa
@ba jukwa · 11 months ago
ndamboona a comic pa Facebook kuseni vene vayo in class calculation of zig to bond iripa board ummmmm ma equations acho akutoda vanonzwisisa calculus bedzi.
Inconsistency · 11 months ago
So we're to deposit all notes before 21 April but we can use tbem upto 30 April. Ok I see inconsistency is something else
laugh emoji1
Unknown · 11 months ago
This is Zimbabwe, siyana nazvo wangu😂😂
Inconsistency · 11 months ago
True kkk let me keep quiet and enjoy ZiG pay on monthend
🧐 · 11 months ago
Svomhu dziriko idzi dzoda pot o njere chaiyo but I get this very fscible people should wake up and smell the coffee this real money, real transact, real deal njuga hakuchisina zvechokwadi Besides Gold what else, really..... 🤷‍♂️

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