Bulawayo24 News - Skyes! "it makes perfect sense"

ZiG is putting lipstick on a pig, says Biti

The Reserve Bank of Zimbabwe (RBZ) on Friday introduced a new currency to be known as the ZiG, which stands for Zimbabwe Gold.RBZ governor John Mushayavanhu said the ZiG would be structured and set at a market-determined exchange rate. It …

Published: 07 Apr 2024 at 09:31hrs | | by Staff reporter

New currency without public confidence won't solve crisis

The government of Zimbabwe through the Reserve Bank of Zimbabwe (RBZ) has launched a new currency, which it calls the Zimbabwe Gold (ZiG).We have been here before and it is key to understand if the ZiG dollar will be successful.It is impor…

Published: 07 Apr 2024 at 09:29hrs | | by Mlondolozi Ndlovu

Zimbabwe currency crisis: Time to face the truth

THERE is, of course, no such thing as "a shortage of foreign currency".In open and disciplined markets, all that such a claim reflects is an over-valued local currency, whose managers resist the simple law of supply and demand, at that poi…

Published: 07 Apr 2024 at 09:26hrs | | by Obert Nyandoro

Withdraw Zimdollar from circulation

GOOD day, President Emmerson Mnangagwa. Your Excellency, it is my conviction that the Zimdollar, all things considered, is a swine. It is the epitome of voodoo economics, based on implausible assumptions. It ought not have been reintroduce…

Published: 14 Feb 2024 at 19:25hrs | | by Cyprian Muketiwa Ndawana

Zimdollar worse off since 2022

THE local currency, the Zimbabwean dollar, has continued to depreciate against the United States dollar on an unrestrained trajectory, despite various measures implemented by the Reserve Bank of Zimbabwe.However, the margin of decline has …

Published: 03 Dec 2023 at 19:20hrs | | by Tinashe Duma

Zimdollar on the verge of complete rejection

THE Zimbabwe dollar, which was reintroduced by the Reserve Bank of Zimbabwe (RBZ) in 2019, is on the verge of collapse and complete market rejection.The local unit is incessantly plummeting against the United States dollar in both forex ex…

Published: 16 Jun 2023 at 06:54hrs | | by Zimbabwe Coalition on Debt and Development

Dollarisation key at this juncture

THE instability in the country's macroeconomic environment is a serious cause for concern and solutions should be sought as a matter of urgency.Macroeconomics is a branch of economics that studies how an overall economy behaves, taking int…

Published: 15 Jun 2023 at 05:49hrs | | by Johannes Marisa

US foreign policy and the Zimbabwe dollar!

In my life journey, my three years stay in Jamaica was probably the most traumatic and most revealing as to how the imperialists work.I am, therefore, surprised that Mthuli Ncube and his handlers are either ignorant of that part of history…

Published: 04 Jun 2023 at 07:37hrs | | by Kenneth Mufuka

Zimdollar has made citizens poorer

WE can't progress if we don't accept reality and correct our shortcomings. It's a fact that the Zimdollar has brought more problems to our sick economy.The Zimdollar prescription is adding more poison to the sick economy and surely, the Re…

Published: 21 Nov 2022 at 04:57hrs | | by Patriot

Government is right on not adopting American dollar as major currency

Calls on government to do away with our own currency, the Zimbabwe dollar/bond, should be ignored by the ED led government.Taking a look back at our neighbours, notably Zambia and Mozambique, they never discarded their currencies , the for…

Published: 09 Jun 2022 at 09:27hrs | | by AT Kadada

The death of the Zimdollar shows the King has no clothes

The death of the Zimbabwe dollar is proof that with all our education, there is something terribly rotten in Simbao (ancient name for Zimbabwe).I want to make an apology to Sister Fay Chung. Sister Chung argued that Zimbabwe's colonial edu…

Published: 05 Jun 2022 at 08:16hrs | | by Kenneth Mufuka

Zimdollar in worst freefall on auction

THIS week the Zimbabwean dollar (Zimdollar) dropped by yet another noteworthy margin against the greenback, on the auction market.The Zimdollar has lost value in each of the 10 trading weeks since the beginning of the year and the cumulati…

Published: 25 Mar 2022 at 17:57hrs | | by Respect Gwenzi

What China's overseas coal exit could mean for Zimbabwe

IN response to What China's overseas coal exit plans could mean for Zimbabwe' XYZ says: Is being fair to acknowledge that the environmental accusations made towards China are somehow unfair.As was mentioned in the article, that in terms of…

Published: 11 Oct 2021 at 05:02hrs | | by MDC-T president Douglas Mwonzora

Zimdollar to remain stable

TWO years ago, the new Minister of Finance in Zimbabwe brought together a small group of local business persons in an informal advisory group. I was privileged to be included.Our meetings were irregular, largely driven by the Ministers nee…

Published: 29 Mar 2021 at 17:10hrs | | by Eddie Cross

Sustaining the Zimdollar

I AM naturally enchanted by the logic, sequence and clarity of a thought process. But l have grown to learn that, quite often, economic plans are elaborately ornamented.The number of economies with utterly fabulous economic blueprints that…

Published: 09 Aug 2019 at 14:02hrs | | by Persistence Gwanyanya

Zimdollar return: Beware the cobra effect

Last month, the government took all and sundry by surprise when it banned the use of multi-currencies in all local transactions and reintroduced the Zimdollar; abandoned due hyperinflation in 2009.The move shocked Zimbabweans, who have the…

Published: 24 Jul 2019 at 07:24hrs | | by Cliff Chiduku

Giving Mthuli Ncube's mono-currency a fighting chance

It is July 1, 1916, World War 1, the Battle of the Somme. The British Army had been planning for weeks and months for a massive assault on German positions dug in around Somme, to relieve pressure on their beleaguered French allies involve…

Published: 04 Jul 2019 at 17:46hrs | | by Joseph Mverecha

The new Zimdollar: What could go wrong?

ZIMBABWE last week made its interim currency, the RTGS dollar, the country's sole legal tender, drawing the curtains on a decade of United States dollar dominance. Harare was forced to abandon its own dollar in 2009 and adopt the greenback…

Published: 03 Jul 2019 at 07:43hrs | 2174 | by Ed Stoddard

Zimbabwe - Where did that come from?

Statutory Instrument 142 - Monday June 24, 2019 will go down as one of those days you remember.I have just read the Zimbabwe Independent for this week, it was all about the "return of the Zimbabwe dollar". Since Monday, this has been the o…

Published: 02 Jul 2019 at 07:27hrs | | by Eddie Cross

Zimdollar: Only way out

Having gathered the courage to debunk the deeply held view that once dollarised, it is extremely difficult for a country to de-dollarise, Professor Mthuli Ncube's biggest challenge is to now prove to the whole world that de-dollarisation i…

Published: 30 Jun 2019 at 08:32hrs | 4606 | by Persistence Gwanyanya

It's up to us to make Zimdollar work

The record needs to be set straight that Finance minister Mthuli Ncube has done nothing outrageous and/or unprecedented by banning the use of foreign currencies in domestic transactions.According to Wikipedia, this is a measure resorted to…

Published: 28 Jun 2019 at 05:25hrs | | by Conway Tutani

Zimbabwe's new currency: What does it all mean?

FEW things fill a Zimbabwean with fear and dread more than the word "Zimdollar". So, it was no surprise that the news Zimbabwe had declared the RTGS the sole local currency, one more step in the country's march towards its own unit, was me…

Published: 28 Jun 2019 at 05:22hrs | | by newZWire

Introduction of Zimdollar a disaster

A major economic highlight of the week was the confirmation by the President Emmerson Mnangagwa that Zimbabwe will re-introduce a local currency before year-end. It is our view that our country is not yet ready for the introduction of full…

Published: 21 Jun 2019 at 06:48hrs | | by Dr Chitambara

Rebirth of the Zimdollar

Zimbabwean central bank authorities have a traceable record of overnight monetary policy changes. Memories of the former Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono era of monetary policy hip-hop are still fresh in the mind. Having…

Published: 19 Apr 2019 at 10:09hrs | | by Paddington Masamha

Zimbabwe urgently needs own currency

THE drive for Zimbabwe to have its own currency is understandably gain-ing traction, particularly given the aberrations of price increases, multi-tier pricing and foreign currency shortages on the local market. The country demonetised its …

Published: 17 Feb 2019 at 18:44hrs | | by Edmore Ndudzo

Return of the Zimdollar?

THE Reserve Bank of Zimbabwe (RBZ) governor John Mangudya is due to release the monetary policy and the policy position is highly anticipated against the sustained monetary related macro-economic deficiencies. As a symptom, the economy has…

Published: 07 Feb 2019 at 15:00hrs | | by Respect Gwenzi

Re-introducing local currency, not so fast

THE government recently pledged to re-introduce a local currency to replace the current multi-currency regime within 12 months in its efforts to address a mounting economic crisis.Making the announcement, Finance minister Mthuli Ncube sugg…

Published: 25 Jan 2019 at 14:31hrs | | by Tinashe Kaduwo

You shall not crucify Zimbabwe on a cross of bond notes

RECENT dramatic events arising from allegations that certain officials of the Reserve Bank of Zimbabwe (RBZ) have been involved in currency malfeasance using the bond note as their lever to execute transactions that prejudiced the people o…

Published: 03 Nov 2018 at 08:08hrs | | by Colls Ndlovu

Case for return of Zimdollar

In year 2014, I wrote an article explaining why the government should bring back our own local currency, and I was bashed by all and sundry. I am expecting the same reaction in response to this article. Many Zimbabweans do not want to hear…

Published: 02 Oct 2018 at 08:48hrs | | by Ayanda Nyanga

Mnangagwa's Dis-trustfulness surfaces just a minute before he assumes Power

Just three days ago, Mnangagwa mechanisms appealed to the people of Zimbabwe to unite and show Mugabe how bad a leader he was. The Nation responded after Mnangagwa-war-veterans had pledged that they now stand with the people of Zimbabwe. W…

Published: 20 Nov 2017 at 11:27hrs | | by Ryton Dzimiri

The 'new Zimdollar', hyperinflation

APPLIED economics professor Steve Hanke, has said that Zimbabwe is now experiencing hyperinflation for the second time in less than 10 years and has pointed out the creation of what he calls the "new Zim dollar" as the cause.Hanke, with th…

Published: 10 Nov 2017 at 11:36hrs | | by Omega Ukama

It's the Zimdollar, stupid!

Gentle reader, I think it is a sheer waste of national time to focus on the collapse of ZimPF, spectacular though that may be. There was nothing unexpected about ZimPF's dramatic finale, especially for you who have been reading this column…

Published: 11 Feb 2017 at 20:52hrs | | by Nathaniel Manheru

The bond notes will fail in the same way the Zimdollar

.....and the bearers' cheque failed The Zimbabwe dollar that was inherited from the Rhodesian government in 1980 with the exchange rate of one to one with the US dollar collapsed in 2009. The Rhodesian government used the dollar for the re…

Published: 29 Nov 2016 at 21:13hrs | | by Themba Mthethwa

Bring back the Zimbabwe dollar

EDITOR,As a patriot in love with all things Zimbabwean, including the shelved local currency, I would like to request through your paper the gradual resuscitation of the Zimbabwean dollar.Reissuing our own money as legal tender when condit…

Published: 27 Oct 2015 at 12:19hrs | | by Admire Mashanyare

Return of the Zimdollar, now a Black Swan event

The Zim government's dogged determination to keep the multicurrency system is an even that has to be celebrated by the populace in general and the financial markets in particular. The fact that the Zim dollar will not return in our life ti…

Published: 21 Jan 2015 at 10:38hrs | | by Colls Ndlovu

Time for the Zimdollar to make a reappearance?

Maybe not yet, but there are glimmers of hope for the country, argues Andrew Robinson.On the back of news that foreign investment into Zimbabwe fell 59% to a mere $67 million in the first half of this year, it has become a moot point that …

Published: 12 Oct 2014 at 21:28hrs | | by Andrew Robinson|

'Zimdollar' reintroduction likely to be tough

THE dumping of the local currency in 2009 in favour of the multicurrency regime was bittersweet in that it halted hyperinflation but at the same time created a liquidity crunch in the economy. It is worth noting that our dollarisation was …

Published: 31 Jul 2014 at 10:51hrs | | by AfrAsia Kingdom

Zimdollar return inevitable

Since the medieval evolution of nations, the predominant classic feature of national identity was decoded by economic identity (sovereign currency) and the political identity (the flag).While we have a peaceful political existence that man…

Published: 21 Jul 2014 at 06:31hrs | | by Joseph Sagwati

Zim$100 000 000 000 000 000 000 000 000

The figure above is the last official currency in, real terms, that was issued as legal tender by the Reserve Bank of Zimbabwe if you add back the 13 zeros that had been slashed off the last Zim$100 trillion (10 to the power 14) currency i…

Published: 31 Oct 2013 at 15:58hrs | | by Colls Ndlovu

Zimdollar versus the multicurrency system

The ongoing debate within Zimbabwe's financial markets about the possible return of the now-defunct Zimdollar serves to further destabilise the country's still fragile economy in general, and the financial sector in particular. Bagfuls of …

Published: 28 Oct 2013 at 16:07hrs | | by Colls Ndlovu

The difficulty of a return to the Zimbabwe dollar

SOUTH Africans often ask how Zimbabwe was able to adopt the dollar as its official currency and, conversely, how it could re-establish its own currency. The answers begin with an understanding of what money actually is.In modern financial …

Published: 14 Oct 2013 at 04:13hrs | | by Gavin Keeton, BDLive

Full statement by RBZ on reported return of ZimDollar

CONTINUED USE OF MULTI-CURRENCY SYSTEM IN ZIMBABWE1. Reference is made to rumors circulating in the market and uninformed pronouncements suggesting the immediate or near-term return of the local Zimbabwe currency by what-ever name.2. This …

Published: 07 Aug 2013 at 10:01hrs | | by Gideon Gono

Zim dollar backed by gold is 'undiluted rubbish'

Wananchi, as I stated in my last post, it is that season where every second is history and each hour brings its own unlimited bandwidth of fresh data and information. I warned in yet another post of the danger of being swallowed and engulf…

Published: 07 Jul 2013 at 14:51hrs | | by Tendai Biti

Now is the right time to introduce the Zim dollar

A new Zimbabwe dollar which is pegged to the rand and is supported by appropriate foreign currency reserves will benefit the economy of Zimbabwe in the following way:    Improved internal trading conditions to assist poverty…

Published: 22 Jan 2012 at 08:50hrs | | by Joyce Tangadzani Shumba

Search / Zimdollar

History behind Glen View, Glen Norah and Warren Park

Who says men are the worst perpetrators of gender-based and domestic violence?

Legal Aid directorate intervenes in Bindura drug case

Over 24,000 children receive Vitamin A supplementation in Bulawayo

Police arrest robbery suspect in Chegutu

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Secondary runway and terminal for Mugabe airport

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