Latest topics
Rand will not become Zim currency: bank
Page 1 of 1
Rand will not become Zim currency: bank
Rand will not become Zim currency: bank
Monday 24 April 2017 - 3:25pm
File: A till operator accepts a Zimbabwean bond note at a supermarket in Harare. Despite a shortage in the currency, it will not be replaced with the rand. Photo: Reuters/Philimon Bulawayo
JOHANNESBURG - The Reserve Bank of Zimbabwe has rejected a call to adopt the rand as its official currency amid shortages of the bond notes adopted as currency recently.
Zimbabwean Reserve Bank Governor John Mangudya said the rand was already part of the multi-currency basket introduced in 2009.
He said currency shortages were the least of the country's problems. Poor production and high imports are the biggest challenges facing the Zimbabwean economy, according to him.
But, he says they've introduced an import restriction, which is expected to assist with the problem.
Some Zimbabwean economists believe the only logical step is to adopt the rand.
They say this will address structural and macro imbalances as Zimbabwe tries to increase production, exports and forex reserves.
https://www.enca.com/money/rand-will-not-become-zim-currency-bank
Monday 24 April 2017 - 3:25pm
File: A till operator accepts a Zimbabwean bond note at a supermarket in Harare. Despite a shortage in the currency, it will not be replaced with the rand. Photo: Reuters/Philimon Bulawayo
JOHANNESBURG - The Reserve Bank of Zimbabwe has rejected a call to adopt the rand as its official currency amid shortages of the bond notes adopted as currency recently.
Zimbabwean Reserve Bank Governor John Mangudya said the rand was already part of the multi-currency basket introduced in 2009.
He said currency shortages were the least of the country's problems. Poor production and high imports are the biggest challenges facing the Zimbabwean economy, according to him.
But, he says they've introduced an import restriction, which is expected to assist with the problem.
Some Zimbabwean economists believe the only logical step is to adopt the rand.
They say this will address structural and macro imbalances as Zimbabwe tries to increase production, exports and forex reserves.
https://www.enca.com/money/rand-will-not-become-zim-currency-bank
*****************
>>>TNTBS's YouTube Channel<<<
RamblerNash- GURU HUNTER
- Posts : 24270
Join date : 2015-02-19
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
Yesterday at 6:02 am by Ditartyn
» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
Sat Mar 23, 2024 9:25 am by swizzlestick
» ZIGPLACE
Wed Mar 20, 2024 6:29 am by Zig
» CBD Vape Cartridges
Thu Mar 07, 2024 2:10 pm by Arendac
» Classic Tony is back
Tue Mar 05, 2024 2:53 pm by Mission1st
» THE MUSINGS OF A MADMAN
Mon Mar 04, 2024 11:40 am by Arendac
» Minister of Transport: We do not have authority over any airport in Iraq
Mon Mar 04, 2024 11:40 am by Verina
» Did Okie Die?
Mon Mar 04, 2024 11:34 am by Arendac
» Hello all, I’m new
Wed Jan 31, 2024 8:46 pm by Jonny_5
» The Renfrows: Prophets for Profits, Happy Anniversary!
Wed Jan 31, 2024 6:46 pm by Mission1st
» What Happens when Cancer is treated with Cannabis? VIDEO
Wed Jan 31, 2024 8:58 am by MadisonParrish
» An Awesome talk between Tucker and Russell Brand
Wed Jan 31, 2024 12:16 am by kenlej
» Trafficking in children
Mon Jan 29, 2024 7:43 pm by kenlej
» The second American Revolution has begun, God Bless Texas
Mon Jan 29, 2024 6:13 pm by kenlej
» The Global Currency Reset Evolution Event Will Begin With Gold, Zimbabwe ZWR Old Bank Notes
Sun Jan 28, 2024 3:28 pm by Mission1st
» Tucker talking Canada
Wed Jan 24, 2024 6:50 pm by kenlej
» Almost to the end The goodguys are winning
Mon Jan 22, 2024 9:03 pm by kenlej
» Dinar Daily Facebook Page
Mon Jan 22, 2024 3:34 pm by Ponee
» The Fundamentals of Finance and Pimpy Live
Thu Jan 18, 2024 7:17 am by Dinarhater
» Why Won't the Iraqi Dinar Scam Die?
Wed Jan 17, 2024 5:19 pm by RamblerNash