Audio By Carbonatix
Zimbabwe has reintroduced the use of foreign currencies for domestic transactions, which it had banned last June, in the wake of the coronavirus outbreak.
The move announced on Thursday is expected to help the country to access private foreign exchange savings as it gears up for the battle against the virus.
Zimbabwe had used a number of foreign currencies since hyperinflation forced the government to ditch the Zimbabwe dollar in 2009. Last year's ban on foreign currency was intended to restore normalcy to the economy.
The country’s central bank has also reduced its main lending rate to 25% from 35% and set a fixed exchange rate as part of measures to support the economy against the pandemic.
John Mangudya, the central bank’s governor, said he expected banks to cut lending rates to customers.
Officially, Zimbabwe has so far recorded five cases of coronavirus, including one death.
The country has a long-standing health sector crisis and doctors have only recently returned to work after a protracted strike over low salaries and poor working conditions.
On Wednesday, junior doctors stopped work citing a shortage of protective equipment which they said put them at risk of contracting the virus.
Latest Stories
-
NPP’s silence on economic indicators suggests Mahama is doing better – Haruna Iddrisu
5 minutes -
GoldBod must be more accountable to Ghanaians – Haruna Iddrisu
20 minutes -
Affi Agbenyo’s EC appointment is constitutionally appropriate, but politically, people have the right to remind us – Haruna Iddrisu
31 minutes -
Education is critical to Ghana’s future and development – Haruna Iddrisu
50 minutes -
Who’s Emelia Affi Agbenyo, the 43-year-old newly sworn-in Deputy EC Chair?
1 hour -
Haruna Iddrisu calls for limits on annual university accommodation fee increases
2 hours -
Today’s front pages: Tuesday, October 13, 2026
3 hours -
Wealth Over Water: How Galamsey Is Threatening Ghana’s Water Security
3 hours -
LA 2028: Black Queens pumped up for second leg of Mauritius tie
3 hours -
LA 2028: Black Queens hold final training session ahead of second leg against Mauritius
4 hours -
Standards are not Seasonal: What the EC appointments teach both sides
4 hours -
King Mohammed VI urges private sector to create youth jobs and spread benefits of growth
4 hours -
KGL U17 Colts 2026: Greater Accra win title after penalties win over Western Region
4 hours -
UK Investment Roadshow opens in London to advance UK-Ghana growth partnership
4 hours -
Assemblies of God requires pastors to resign before entering partisan politics – Rev. Wengam
5 hours