The Zimbabwean government has indicated that a local currency will be introduced in the next 12 months in a move widely believed to be a precursor to joining the Common Monetary Area (CMA), also referred to as the Rand Monetary Union (RMU).
The CMA connects South Africa, Namibia, Lesotho and Swaziland into a monetary union through the Southern African Customs Union (Sacu) trade protocols. Although the South African rand is legal tender in all the four countries, all member states have to have their own local currencies which can be exchanged at par with the rand.
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