The Reserve Bank of Zimbabwe (RBZ) governor, Dr John Mushayavanhu, has announced that the Zimbabwe dollar (ZWL) is still legal tender.
Zimbabwe Dollar Still Legal Tender. Days Dr Mushayavanhu
Speaking this morning on Star FM, the Governor said the local Zimbabwe dollar (ZWL) are no longer expiring. They will remain in circulation until further notice.
Dr Mushayabanhu explained:
“We are currently allowing them to co-circulate. And we will let the market know when the volumes of bond notes coming through have thinned out. We will then advise a date to say, ‘After such and such a date, we will no longer be accepting bond notes.’
“But for now, let them come through. We don’t want a situation where someone is sitting on bond notes and they are deep in the rural areas. We want to make sure that at the time we then announce, we will have collected as much as we can. Then we give a final deadline.”
The ZWL will operate along the ZiG, whose notes came into circulation on Tuesday, 30 April. Dr Mushayavanhu introduced the new currency on 5 April 2024.
Zimbabwe dollar legal tender
When the Governor announced the ZiG, he said the Zim dollar would operate for 21 days. This was later extended to 30 April.
Dr John Mushayavanhu also revealed that the central bank introduced smaller denominations of the ZiG on Tuesday.
The biggest note now in circulation is the ZiG10. Some coins are also now circulating in the market.
Social Media Scepticism
Social media users had negative sentiments about the Zimbabwe dollar still being legal tender.
McDhoni:
“We knew since day 1 kuti kungobvisa maZero chete uku.”
Kuda:
“is it confusion, poor communication or bad PR?”
Luther:
“So what backing the ZWL that will remain in circulation??”
Emmanuel:
“Zvri kumboreveiko. Hanti rakaunzwa kuti tishandise as national mari?
Source: iHarare
