Could Zimbabwe Have an Official Currency By Year-End?

Government advisor Ashok Chakravarti has urged for the replacement of the U.S. dollar with the South African rand as the country's main currency. The shortage of U.S. dollars forced the government to introduce the local  bond notes giving it the same value as the U.S. dollar. Despite the surrogate currency's inability to address the country's cash crisis, it could be a fully fledged currency by December.



Harare CBD.

  • Zimbabwe:   'Let Market Determine Bond Note Value'

    The Herald, 27 July 2017

    Zimbabwean monetary authorities should let the market determine the true value of the bond note currency to curb its externalisation and in turn reduce cash shortages, a leading… Read more »

  • Zimbabwe:   Bond Notes Fuel Inflation - IMF

    Financial Gazette, 13 July 2017

    Government's introduction of bond notes last year to address a relentless cash crisis fuelled a currency black market, which had been subdued due to a multiple currency regime, the… Read more »

  • Zimbabwe:   Bond Notes Weaken Against U.S. Dollar

    Zimbabwe Independent, 12 May 2017

    ZIMBABWE'S bond notes continued losing value to the United States unit with forex dealers in the black market discounting the local currency by as much as 15-20% this week for… Read more »

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