Author Topic: Zimbabwe: New currency  (Read 8630 times)

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Offline eurocoin

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Zimbabwe: New currency
« on: January 30, 2019, 09:27:05 PM »
The Minister of Finance of Zimbabwe is planning to introduce a new currency within the next 12 months. A source close to the project is being cited in several local media as saying that the introduction will in fact happen in February 2019. The same source claims the currency was already produced and has been stored in the vaults of the Central Bank since March 2018.

Offline milkshakespeare

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Re: Zimbabwe: New currency
« Reply #1 on: January 30, 2019, 09:40:48 PM »
That sounds like a very optimistic plan to me.

Offline chrisild

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Re: Zimbabwe: New currency
« Reply #2 on: January 30, 2019, 11:57:52 PM »
That sounds like a very optimistic plan to me.

February? Indeed. :) Briefly read about such plans earlier this month but did not take it serious. Well, a mistake maybe ...

Christian

Offline eurocoin

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Re: Zimbabwe: New currency
« Reply #3 on: February 22, 2019, 08:00:56 AM »
The new currency of Zimbabwe is the RTGS Dollar.

Offline Bimat

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Zimbabwe: New currency
« Reply #4 on: February 22, 2019, 02:31:00 PM »
What does RTGS stand for? Real Time Gross Settlement?!?!

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline Bimat

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Zimbabwe: New currency
« Reply #5 on: February 22, 2019, 02:32:44 PM »
What does RTGS stand for? Real Time Gross Settlement?!?!

Aditya

Indeed it does!

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline Pabitra

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Re: Zimbabwe: New currency
« Reply #6 on: April 13, 2019, 07:08:21 AM »
No, RTGS is not the new currency.
The new currency plans are still on and it will replace RTGS.

See

Zim Planning To Introduce ?A New, Fully-Fledged Currency? In 12 Months ? Mthuli

Offline Stef

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Re: Zimbabwe: New currency
« Reply #7 on: June 28, 2019, 04:28:33 PM »
It seems that the Zim dollar has been reintroduced from 24th June, 2019 as the only legal tender in Zimbabwe (rebranding the RTGS dollar). See Statutory Instrument 142 of 2019.

Offline Pabitra

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Re: Zimbabwe: New currency
« Reply #8 on: August 04, 2019, 01:45:21 PM »

Offline eurocoin

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Re: Zimbabwe: New currency
« Reply #9 on: August 18, 2019, 05:25:09 PM »
From local news site Bulawayo24:

New Zimbabwe currency in 21 days

The Zimbabwe Reserve Bank is expected to launch a new series of Zimbabwe Dollars to replace the Bond notes and the non physical RTGS$ in twenty one days.

An RBZ source who spoke to this reporter on Friday midnight (August 9) said they emerged from a meeting where all systems were set at go.

"I am just coming from  a marathon meeting with the bosses and I can assure you that the Zim dollar will be printed and unveiled in the next 21 days ceteris paribus," the source said. "The Governor has been busy the whole week in consultation with relevant stakeholders to make sure that the physical notes are launched with public confidence as they will ease the liquid crisis that the country is faced with."

The source added that the new notes are anticipated to stabilize the Zim dollar at around 1:1 rate with the South African Rand thereby giving a boost to salaries that workers have been crying of.

Offline Bimat

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Zimbabwe: New currency
« Reply #10 on: August 24, 2019, 01:45:37 PM »
According to Zimbabwe's finance minister, new notes/coins is not a priority for the government... ::)

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline eurocoin

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Re: Zimbabwe: New currency
« Reply #11 on: August 29, 2019, 10:35:16 PM »
Zimbabwe's finance minister mentioned in an article he wrote for the Financial Times that the new fiat currency will be rolled out before the end of the year.
« Last Edit: August 30, 2019, 08:38:16 AM by eurocoin »

Offline Pabitra

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Re: Zimbabwe: New currency
« Reply #12 on: October 04, 2019, 10:00:00 AM »
Coming next month

Zimbabwe to introduce new currency in November: official - Xinhua |

News from China
Perhaps getting minted ( and printed ) in China

Offline <k>

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Re: Zimbabwe: New currency
« Reply #13 on: October 04, 2019, 12:42:33 PM »
.

Offline eurocoin

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Re: Zimbabwe: New currency
« Reply #14 on: October 04, 2019, 02:31:40 PM »
This press release has been issued by the local government in response to the statements of Mr Cross about the alleged release of the new currency in November.

Statement on Mr Eddie Cross's currency pronouncements

We have received a lot of media enquiries regarding the pronouncements by Mr Eddie Cross on currency reforms.

Mr. E. Cross pronounced that Zimbabwe will be introducing a new currency in November 2019. We would like to make it clear that Mr E. Cross does not speak for the Government of Zimbabwe. Neither does he speak for the Reserve Bank of Zimbabwe (RBZ). His views are personal and not indicative of Government's policy thrust.

The Reserve Bank will regularly inject money into the economy in a measured and responsible way. Government will continue to give the nation updates on currency reform as and when necessary.

Statement Issued By:

N. Mangwana
Secretary for Information, Publicity and Broadcasting Services