Search / Zimdollar
Introduction of new currency a piecemeal solution
DURING the 2020 national budget presentation in Parliament last month, Finance minister Mthuli Ncube held up a note of the new Zimbabwe dollar and proudly announced that it was tough and resilient....Published: 04 Dec 2019 at 09:20hrs | 1104 | by Staff reporter
Zimbabwe's current economic meltdown beyond description
I am writing this piece writhing in agony because I see helplessness in our society with a moribund leadership on a broad scale. The current economic meltdown is beyond description especially given th...Published: 01 Dec 2019 at 10:20hrs | 2638 | by JJD Dube
This is how the cash gets onto the black market
The question is, how on this cursed land is money that the Reserve Bank of Zimbabwe (RBZ) is busy printing getting onto the black market in such huge amounts? The answer is, it's taking quite a team â...Published: 01 Dec 2019 at 06:11hrs | 3256 | by Tawanda Majoni
State of Zimdollar spells doom
IT can only happen in Africa; and it is, indeed, such a shame that the continent has become world famous and synonymous with leaders who are so crass that they will walk with a swagger while their nos...Published: 29 Nov 2019 at 09:39hrs | 544 | by Staff reporter
Zimdollar plunges 564% since February
The Zimbabwe dollar has depreciated by 564% to date since its introduction in February this year due to lack of market confidence and nothing to back it in terms of gold reserves and export earnings....Published: 27 Nov 2019 at 06:54hrs | 1435 | by Staff reporter
'Cross-border traders to declare forex sources'
PRESIDENT Emmerson Mnangagwa's government is headed for another clash with cross-border traders and ordinary citizens after announcing plans to compel travellers to disclose their source of foreign cu...Published: 24 Nov 2019 at 17:23hrs | 3968 | by Staff reporter
Matebeleland switches to rand amid currency turmoil
As the government celebrates the transition from the multi-currency regime to a mono-currency system as one of its successes towards currency reforms, it is a different situation altogether in rural M...Published: 24 Nov 2019 at 14:38hrs | 1521 | by Staff reporter
Higher Zimdollar denominations coming
Government will soon unveil higher denominations of money to bring convenience to the transacting public but has to do so with caution to avoid inflationary pressures, Secretary for Finance and Econom...Published: 22 Nov 2019 at 17:59hrs | 759 | by Staff reporter
Can new Zimdollar relieve the chronic cash crunch?
Gason Mukuvadzi, a lanky man with boyish looks, sits behind a makeshift desk in Mbare's Mupedzanhamo centre. An umbrella canvas shelters him from the blistering sun as he waits for customers looking t...Published: 15 Nov 2019 at 06:19hrs | 319 | by Staff reporter
Currency change sparks confusion
A SERIES of changes to the country's currency has triggered confusion for accountants, consumers of financial information and investors on the Zimbabwe Stock Exchange (ZSE).The Zimbabwean gove...Published: 15 Nov 2019 at 06:19hrs | 505 | by Staff reporter
Zimdollar and the quest for redemption
A NEW currency is in town and this week we witnessed its physical manifestation exactly four-and-a-half months after its official return. Since February, however, the near-return was almost predictabl...Published: 15 Nov 2019 at 06:18hrs | 151 | by Respect Gwenzi
Tendai Biti sent cracking?
Revered economic analyst, Brighton Musonza, has said the return of the Zimbabwean dollar (ZWL$) has sent economic arrivalists such as Tendai Biti cracking with no technical argument against it....Published: 13 Nov 2019 at 20:39hrs | 13305 | by Staff reporter
Let's embrace new Zimbabwean dollar notes
WE welcome the roll out of the new Zimbabwe dollar five and two dollar notes, which begin circulating today and urge the nation to embrace them as the country takes another major step in its currency ...Published: 11 Nov 2019 at 06:24hrs | 1647 | by Staff reporter
Zimdollar repayment for US$ debt
A Harare man who lent his wife's colleague US100 in 2017 who then failed to pay back on time, will now get back his money in Zimbabwe dollars. Cecresy Kunetsa dragged Maidei Banda to the Harar...Published: 10 Nov 2019 at 22:05hrs | 5751 | by Staff reporter
All set for stable Zimdollar
As the Reserve Bank of Zimbabwe releases $2 coins into circulation tomorrow ahead of the introduction of $2 and $5 Zim-dollar notes, Finance and Economic Development Minister Professor Mthuli Ncube is...Published: 10 Nov 2019 at 08:22hrs | 654 | by Staff reporter
'Mnangagwa's Zimbabwe scoring own goals'
ZIMBABWE is facing a myriad of challenges, including a huge debt overhang which is a stumbling block to new financing, hyperinflation that has eroded people's disposable incomes, and general economic ...Published: 08 Nov 2019 at 05:18hrs | 678 | by Staff reporter
Mthuli Ncube vows to defend Zimdollar
Finance and Economic Development Minister Professor Mthuli Ncube, has vowed to defend the stability and value of the Zimbabwe dollar against other (especially major) currencies to address concerns ove...Published: 06 Nov 2019 at 11:30hrs | 1773 | by Staff reporter
The Zimbabwe dollar won't gain any confidence
Reserve Bank of Zimbabwe governor John Mangudya announced this week the introduction in a fortnight of new currency notes. Mangudya said the denominations, comprising of ZW$2 and ZW$5 notes and $2 bon...Published: 01 Nov 2019 at 06:47hrs | 1164 | by Faith Zaba
Mthuli Ncube seeks to broaden tax base
THE 2020 National Budget will focus on enhancing revenue collection through advancing the ongoing Zimbabwe Revenue Authority and other administrative reform initiatives meant to broaden the tax base a...Published: 01 Nov 2019 at 06:45hrs | 2758 | by Staff reporter
New Zimdollar notes excite market
THE Reserve Bank of Zimbabwe (RBZ)'s move to inject new notes and coins into circulation in two weeks' time has excited the market with economists saying this would restore normal transactions and wee...Published: 31 Oct 2019 at 07:26hrs | 6924 | by Staff reporter
Zimbabwe's not so new currency
News about a pending currency coming to the market in a fortnight made headlines on Tuesday even as it abated confusion over the reintroduction of the currency in question. The confusion pertains to w...Published: 31 Oct 2019 at 07:19hrs | 753 | by Respect Gwenzi
New Zimdollar notes and coins explained
The Reserve Bank of Zimbabwe (RBZ) will introduce new bank notes and coins to be used together with the bond notes in the next two weeks. Said RBZ governor Dr John Mangudya at the inaugural pr...Published: 31 Oct 2019 at 07:13hrs | 1692 | by Staff reporter
Zimdollar to be pegged against SA rands
THE government is leaning towards pegging the Zimbabwe dollar currency to the South African rand, with Finance minister Mthuli Ncube saying this would make the local currency more competitive in the r...Published: 29 Oct 2019 at 07:01hrs | 12929 | by Staff reporter
Zimbabwe poverty threshold levels increase by 200% in 6 months
Latest data released by ZimStat shows that poverty threshold levels for a family of five increased to ZW$883 in September from ZW$725,3 in August.In growth terms, the movement represents a 22%...Published: 29 Oct 2019 at 06:59hrs | 452 | by Staff reporter
'Zimbabwe risks redollarising'
Zimbabwe Ezekiel Guti University pro-vice chancellor Gift Mugano has said Zimbabwe risks going back to dollarisation in the first quarter of 2020 due to failure by the local currency to boost public c...Published: 22 Oct 2019 at 11:35hrs | 1446 | by Staff reporter
Mthuli Ncube's 2020 budget headache
Parliament says structuring next year's budget presents a serious headache as the imploding economy continues to be saddled by runaway inflation and skyrocketing prices stemming from currency volatili...Published: 22 Oct 2019 at 07:19hrs | 2818 | by Staff reporter
UK think tank sees Zimdollar firming
The Zimbabwe dollar is expected to largely stabilise next year before it starts firming against the US dollar on the back of growing confidence in the domestic currency.The local currency woul...Published: 18 Oct 2019 at 19:02hrs | 4435 | by Staff reporter
No prospects of return to a multi-currency regime
ZIMBABWE'S central bank deputy governor Jesimen Chipika says the nation is grappling with symptomatic challenges instead of tackling structural problems in the economy as she that the multi-currency s...Published: 18 Oct 2019 at 05:32hrs | 518 | by Staff reporter
Zimbabwe-dollarisation impacts on the banking sector
COUNTRIES forced into dollarisation usually find it impossible to de-dollarise and Zimbabwe's mid-year efforts to do so adds another country to the long list of those that tried and failed.Gov...Published: 18 Oct 2019 at 05:29hrs | 233 | by Tony Hawkins
RBZ's currency policy doomed to fail
THE latest move by the Reserve Bank of Zimbabwe (RBZ) to manage the exchange rate yet again is another experiment doomed to fail as laws of supply and demand will prevail.Economists say Zimbab...Published: 18 Oct 2019 at 05:28hrs | 1810 | by Staff reporter
Ecobank Zimbabwe wins top bank award
PAN-AFRICAN financial institution Ecobank Zimbabwe Limited came tops at the prestigious Zimbabwe Independent Banks and Banking Survey that was held at a colourful ceremony in the in the capital yester...Published: 18 Oct 2019 at 05:26hrs | 195 | by Staff reporter
Zimdollar stability: The war is still on
THE war on currency stability is definitely not over. Those who are conversant with the economy often know exactly what I mean. Of course, in the first instance, the expectation of instant stability f...Published: 18 Oct 2019 at 05:25hrs | 145 | by Persistence Gwanyanya
'No going back on Zimdollar usage,' says Mnangagwa
PRESIDENT Mnangagwa yesterday directed all businesses in the country to comply with the new monetary policy regulations as there is no going back on the use of the Zimbabwe dollar for all local transa...Published: 18 Oct 2019 at 04:01hrs | 169 | by Staff reporter
New Zimdollar notes being printed
NEW bank notes will be introduced into the market in a few months' time to ease the current serious shortage of cash in the country, a Reserve Bank of Zimbabwe (RBZ) official has revealed.RBZ ...Published: 17 Oct 2019 at 08:59hrs | 33 | by Staff reporter
Zimdollar crashes further
THE Zimbabwean dollar this week continued its downward spiral after a momentary lull last week following the central bank moved to freeze bank accounts of companies believed to be exerting downward pr...Published: 15 Oct 2019 at 18:39hrs | 744 | by Staff reporter
Doctors, nurses' strike requires a sober approach
In our NewsDay Weekender edition on Saturday we carried a depressing story of how the country's major public hospitals have turned into dens of death as helpless patients succumb to their sicknesses i...Published: 14 Oct 2019 at 06:46hrs | 1961 | by Staff reporter
Civil servants demand US$ wages
PRESIDENT Emmerson Mnangagwa's government has been pushed against the wall by its restive workers who have tabled a new salary demand of at least US$475 or its equivalence of $7 267 at the prevailing ...Published: 14 Oct 2019 at 06:42hrs | 2395 | by Staff reporter
'80% of Zimbabweans have no savings'
NEARLY 80% of Zimbabweans neither have savings nor an emergency fund to fall back on, a new report on workers' spending patterns says.According to a survey carried out by the Industrial Psycho...Published: 11 Oct 2019 at 07:12hrs | 548 | by Staff reporter
More economic pain for Zimbabweans
Zesa Holdings (Zesa) has announced shocking plans to hike power tariffs in the country every month - and in line with prevailing foreign currency exchange rates. Zimbabwe raised its averag...Published: 10 Oct 2019 at 07:46hrs | 1453 | by Staff reporter
Simbisa suffers exchange rate loss
LISTED fast food retail giant, Simbisa Brands Limited suffered a net foreign exchange loss of $2,7 million during the year ended June 2019, arising from revaluation of foreign denominated assets and l...Published: 09 Oct 2019 at 07:01hrs | 292 | by Staff reporter
RBZ denies banning foreign currency withdrawals
The Reserve Bank of Zimbabwe (RBZ) has dismissed media reports that it would raid foreign currency (Nostro) accounts and prevent Zimbabweans from withdrawing their USD funds.In a statement rel...Published: 07 Oct 2019 at 21:06hrs | 3309 | by Staff reporter
RBZ's desperate measures will only worsen the situation
LESS than a week after the Reserve Bank of Zimbabwe (RBZ) unilaterally banned all mobile money cash-in, cash-out and cash-back transactions – before quickly backtracking, the central bank has o...Published: 07 Oct 2019 at 10:02hrs | 2929 | by Staff reporter
Storm brews over nostro accounts
THE Reserve Bank of Zimbabwe (RBZ)'s decision to tighten regulations on withdrawals of foreign currency by Zimbabweans who earn their salaries in foreign currency faces litigation, while analysts warn...Published: 07 Oct 2019 at 09:34hrs | 3163 | by Staff reporter
Jail term for illegal forex dealers gazetted
Trading in any currency, which is not the Zimbabwe dollar, now attracts a fixed $6 000 fine and failure to pay the fine will result in the person involved being jailed. The new rules, gazetted...Published: 05 Oct 2019 at 05:47hrs | 30 | by Staff reporter
Zimdollar plunges 135,7%
THE Zimdollar has devalued by 135,7% to $15,25 against the greenback on the interbank market since it was declared the sole legal tender on June 24, owing to persistent foreign currency shortages and ...Published: 04 Oct 2019 at 07:49hrs | 440 | by Staff reporter
Unifreight slams brakes on foreign borrowings
TRANSPORT and Logistics concern, Unifreight Africa Limited's chairman Peter Annesley says the company is going to limit foreign borrowings to minimise offshore liabilities in light of the exchange rat...Published: 04 Oct 2019 at 07:25hrs | 4 | by Staff reporter
BREAKING: Government dismisses new currency introduction reports
Eddie Cross, a member of the central bank's Monetary Policy Committee had told ZBC that Zimbabwe has been chronically short of paper cash, forcing most transactions onto electronic platforms such as m...Published: 03 Oct 2019 at 17:07hrs | 2911 | by Mandla Ndlovu
Zimdollar notes to be introduced in November
Zimbabwe will put the first notes of its reintroduced currency into circulation in November, said Eddie Cross, a member of the central bank's Monetary Policy Committee.Zimbabwe has been chroni...Published: 03 Oct 2019 at 07:37hrs | 1647 | by Staff reporter
Zimdollar to boost manufacturing sector, says Mnangagwa
THE re-introduction of a mono-currency should rejuvenate the country's manufacturing sector to produce more and benefit from increased export competitiveness, President Mnangagwa has said. Exp...Published: 02 Oct 2019 at 06:34hrs | 660 | by Staff reporter
Zimbabwe enforces exclusive use of Zimdollar for domestic transactions
Government has reinforced legislation which formalised the use of local currency by empowering the Reserve Bank of Zimbabwe (RBZ) to issue civil penalties for contravention and also applying criminal ...Published: 28 Sep 2019 at 19:27hrs | 5159 | by Staff reporter
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