BUSINESS NEWS

UK think tank sees Zimdollar firming

The Zimbabwe dollar is expected to largely stabilise next year before it starts firming against the US dollar on the back of growing confidence in the domestic currency.The local currency would fall t...

By Staff reporter | Published: 18 October 2019

BUSINESS NEWS

Zimdollar, rand parity reignites debate

The Zimbabwe dollar and South Africa's Rand (ZAR) have held par for almost two weeks now, reigniting debate on whether monetary authorities should re-consider adopting the rand as a functional currenc...

By Staff reporter | Published: 05 October 2019

BUSINESS NEWS

Zimbabwe enforces exclusive use of Zimdollar for domestic transactions

Government has reinforced legislation which formalised the use of local currency by empowering the Reserve Bank of Zimbabwe (RBZ) to issue civil penalties for contravention and also applying criminal ...

By Staff reporter | Published: 28 September 2019

FINANCIAL SERVICES

Zimdollar plunges after weekend gains

The value of the Zimbabwe dollar yesterday plunged against the United States dollar after stabilising at the weekend following the Reserve Bank of Zimbabwe (RBZ)'s decision to freeze bank accounts of ...

By Staff reporter | Published: 27 September 2019

BUSINESS NEWS

'Mugabe coup announcer' sets record straight on Zimdollar

Government insists that the ban on the use of multiple currencies will remain in place as it seeks to lower the cost of doing business and get the economy functioning again after decades of uncompetit...

By Staff reporter | Published: 11 July 2019

BUSINESS NEWS

Why Mthuli Ncube fast-tracked Zimdollar return plans

Zimbabwe re-introduced its local currency earlier than scheduled because the market was rapidly re-dollarizing, putting more pressure on the government, finance minister Mthuli Ncube said Monday.Ncube...

By Xinhua | Published: 09 July 2019

BUSINESS NEWS

'Zimdollar must be backed by production'

THE newly introduced Zimbabwe dollar should be backed by production to maintain value against major currencies and sustain strong economic activity in the country, economist, Dr Gift Mugano, has said....

By Staff reporter | Published: 09 July 2019

OPINION

ZCTU can do better than demonstrate for redollarisation

No good deed goes unpunished.Normally, the doer of a good deed expects just a "thank you", but usually someone is adversely affected by the good deed. For example, saving someone's life from a crimina...

By Conway Tutani | Published: 05 July 2019

BUSINESS NEWS

RBZ seeks international recognition for Zimdollar

The Reserve Bank of Zimbabwe (RBZ) says it has written to international exchanges requesting them to officially recognise the Zimbabwe dollar as a tradeable currency.The reintroduction of the local cu...

By Staff reporter | Published: 04 July 2019

OPINION

The new Zimdollar: What could go wrong?

ZIMBABWE last week made its interim currency, the RTGS dollar, the country's sole legal tender, drawing the curtains on a decade of United States dollar dominance. Harare was forced to abandon its own...

By Ed Stoddard | Published: 03 July 2019

BUSINESS NEWS

'No going back on Zimdollar'

The government will never repeal Statutory Instrument (SI) 142 of 2019 which bans the use of foreign currencies as legal tender and makes the RTGS the country's sole legal tender - Justice minister Zi...

By Staff reporter | Published: 02 July 2019

BUSINESS NEWS

Measures in place to preserve Zimbabwe dollar value

Finance and Economic Development Minister Professor Mthuli Ncube says authorities have instituted measures that will ensure that the local currency will not suffer previous depredations, following the...

By Staff reporter | Published: 02 July 2019

ASIA PACIFIC

Russia, China to ditch US dollar

MOSCOW and Beijing have inked an intergovernmental agreement to switch to national currencies in bilateral trade and boost cross-currency settlements up to 50 percent as they ramp up efforts to move a...

By Russia Today | Published: 01 July 2019

BUSINESS NEWS

Zimdollar given 5-day ultimatum

THE National Tripartite Negotiating Forum (TNF) has given government up to Tuesday next week to withdraw Statutory Instrument 142/2019, which banned the use of multi-currency and reintroduced the Zimb...

By Staff reporter | Published: 27 June 2019

BUSINESS NEWS

RTGS dollar plunges by 140%

ZIMBABWE'S local currency, the Real Time Gross Settlement (RTGS) dollar, has plunged by 140% to trade at US$1:ZWL$6 on the official interbank market, nearly four months after its introduction in Febru...

By Staff reporter | Published: 12 June 2019

BUSINESS NEWS

Internet shutdown costs govt millions of dollars

THE government lost millions of dollars through delayed revenue inflows due to the slow processing of imports and exports after the switching off internet services countrywide.Government threw the cou...

By Staff reporter | Published: 20 January 2019

CONSTRUCTION & PROPERTY

Property developers demand US dollars

Property developers are demanding payment in US dollars for residential stands or houses in a development that might further exclude ordinary people from owning houses. The development flies in the fa...

By Staff reporter | Published: 01 January 2019

OPINION

Re-dollarisation of economy: Wrong turn for Zimbabwe

There is an effervescence in the economy - an imperceptible but definite shift towards re- dollarisation of the economy.Initially a trickle, this will soon turn into a mighty tide in one direction –...

By Joseph Mverecha | Published: 30 December 2018

LANDS & AGRICULTURE

US dollar for tobacco, cotton farmers

Tobacco and cotton growers will be paid 20 percent of their produce in foreign currency in the next marketing season while the Government will retain the remainder to help meet imports of essential co...

By Business Weekly | Published: 07 December 2018

BUSINESS NEWS

Dollars vs Zollars

Government's insistence on a fixed 1:1 exchange rate has continued to create headaches for companies who have to report within prescribed accounting standards. This comes as the US dollar, adopted as ...

By Reuters | Published: 06 December 2018

BUSINESS NEWS

'Zimbabwe economy unofficially dollarises'

Zimbabwe is undergoing bond notes substitution and progressive unofficial dollarisation, economists have said.This comes as more citizens are shunning the national currency in favour of the historical...

By Staff reporter | Published: 02 December 2018

BUSINESS NEWS

Zimbabweans want US or Zim dollar only, not SA Rand

THE majority of Zimbabweans would be happy to adopt the United States dollar or the Zimbabwe dollar as only currency and are adverse to the use of bond notes, according to a recent public opinion surv...

By Staff reporter | Published: 21 September 2018

POLITICS

Mnangagwa's source of multi-million-dollar campaign cash questioned

IN TERMS of funding alone, the ruling Zanu-PF party has clearly had a huge advantage over the competition as campaigning gets into the final stretch for the crunch July 30 elections.Huge billboards an...

By Staff reporter | Published: 22 July 2018

BUSINESS NEWS

'No Zimdollar return'

The Reserve Bank of Zimbabwe (RBZ) has refuted claims circulating on social media about the reintroduction of the banished local unit.Social media sites such as WhatsApp, Facebook and Twitter were awa...

By Staff reporter | Published: 05 July 2018

BUSINESS NEWS

RBZ dismisses Zimdollar return rumours

The Reserve Bank of Zimbabwe (RBZ) has advised members of the public to ignore and dismiss the social media article on the re-introduction of the local currency with the contempt it deserves.In a stat...

By Staff reporter | Published: 03 July 2018
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