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Zimbabwe bans use of US Dollar and Rand
24 Jun 2019 at 06:49hrs | Views
Finance Minister Mthuli Ncube has with effect from today, the 24th June 2019, banned the use of foreign currencies as legal tender.
In a Statutory Instrument 142 of 2019 the Reserve Bank of Zimbabwe said the United states dollar, Botswana Pula and South Africa Rand are no longer legal tender in Zimbabwe.
The Statutory Instrument reads:
Subject to section 3, with effect from 24th June 2019, the British pound, United States dollars, South African rand, Botswana pula and any other foreign currency whatsoever shall no longer be legal tender alongside the Zimbabwe dollar in any transactions in Zimbabwe.
Commenting on the matter Professor Jonathan Moyo said, "All they have done is to wakeup with the OLD & failed bondcoins, bondnote and RTGS$ as the NEW previously failed currency called the Zimbabwe Dollar. You will not find a legitimate government anywhere in the civilised & democratic world engaging in such crude currency racketeering."
In a Statutory Instrument 142 of 2019 the Reserve Bank of Zimbabwe said the United states dollar, Botswana Pula and South Africa Rand are no longer legal tender in Zimbabwe.
The Statutory Instrument reads:
Commenting on the matter Professor Jonathan Moyo said, "All they have done is to wakeup with the OLD & failed bondcoins, bondnote and RTGS$ as the NEW previously failed currency called the Zimbabwe Dollar. You will not find a legitimate government anywhere in the civilised & democratic world engaging in such crude currency racketeering."
Source - Byo24News
