Central Banking

Harare abandons Zim dollar for foreign currencies

The Zimbabwean government has said that it will allow businesses to accept multiple currencies alongside the effectively worthless Zimbabwean dollar.

Patrick Chinamasa, Zimbabwe's acting finance minister, acknowledged on Thursday that people were using foreign currencies such as the rand, the dollar, the pula, the euro and sterling to buy goods and said the government would now allow these transactions. The government will also remove price controls on Sunday, he said.

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