We Are Not Rushing to End USD Dollar Use: RBZ Says

Reserve Bank of Zimbabwe (RBZ) Deputy Governor Dr Innocent Matshe has assured businesses and the public that Zimbabwe’s transition towards a mono-currency system will be gradual and market-driven, ruling out any rushed move to abandon the multicurrency framework.

Matshe said the central bank and Treasury would only advance towards a single-currency system when economic conditions support the transition, with eight publicly announced preconditions guiding the process.

He made the remarks during the Pre-Budget Seminar in Bulawayo, where he stressed that while a national currency was important for supporting domestic industry and the broader economy, the transition had to be handled cautiously.

“For an economy that effectively supports its industry, it needs to have its own currency. However, it is not prudent to rush into mono-currency,” Matshe said.