Audio By Carbonatix
Zimbabwe has banned the use of international currencies such as the US dollar, South African rand and British pound.
Zimbabwe has not had its own fully fledged currency since 2009 when authorities abolished the Zimbabwe dollar due to hyperinflation.
The ban comes in immediately and has caught locals by surprise.
Shops and most businesses will only be allowed to accept the substitute currency, the RTGS dollars.
Authorities are believed to have introduced this new measure to curb rampant black market currency trading.
Critics believe that this will slow the economy as businesses will not be able to operate with a volatile local currency.
The regulation does not affect foreign currency accounts, and airfares and customs duty for some items will still be paid in foreign currency.
Latest Stories
-
Ghana’s global image boosted by our world-acclaimed reset agenda – Mahama
7 minutes -
Full text: Mahama’s New Year message to the nation
8 minutes -
The foundation is laid; now we accelerate and expand in 2026 – Mahama
27 minutes -
There is no NPP, CPP nor NDC Ghana, only one Ghana – Mahama
29 minutes -
Eduwatch praises education financing gains but warns delays, teacher gaps could derail reforms
43 minutes -
Kusaal Wikimedians take local language online in 14-day digital campaign
1 hour -
Stop interfering in each other’s roles – Bole-Bamboi MP appeals to traditional rulers for peace
2 hours -
Playback: President Mahama addressed the nation in New Year message
2 hours -
Industrial and Commercial Workers’ Union call for strong work ethics, economic participation in 2026 new year message
4 hours -
Crossover Joy: Churches in Ghana welcome 2026 with fire and faith
4 hours -
Traffic chaos on Accra–Kumasi Highway leaves hundreds stranded as diversions gridlock
4 hours -
Luv FM Family Party in the Park: Hundreds of families flock to Luv FM family party as more join the queue in excitement
4 hours -
Failure to resolve galamsey menace could send gov’t to opposition – Dr Asah-Asante warns
4 hours -
Leadership Lunch & Learn December edition empowers women leaders with practical insights
5 hours -
12 of the best TV shows to watch this January
5 hours