Take a fresh look at your lifestyle.

Zimbabweans queue outside banks as new currency begins trading

Queues formed outside banks in the Zimbabwean capital Harare on Friday as the central bank opened trading of a new currency, a Reuters witness said.

Zimbabwe’s central bank announced on Wednesday that it would scrap the peg between its quasi-currency bond note and the U.S. dollar.

READ ALSO: Police’ll handle cases of ballot box snatching in accordance with the law -CP Lagos

In order to create a new currency from the bond notes and notional electronic dollars that will be known as (Real-time gross settlement) RTGS dollars.

The central bank sold banks U.S. dollars at a rate of 2.5 RTGS dollars on Friday, Governor John Mangudya said. (NAN)

Comments
Loading...