Author Topic: Zimbabwe: New currency  (Read 6490 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.