08-03-17 by Spotlight Zimbabwe

Zim not ready to reintroduce local currency

HARARE – Zimbabwe will continue using foreign currencies that replaced its local unit until economic fundamentals improve, including a sustainable budget and higher business confidence, central bank governor John Mangudya said yesterday.

The southern African nation adopted the US dollar and South African rand eight years ago to bring in financial discipline and currency stability after hyperinflation rendered its own currency worthless.

Agencies

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