Home News Multi-Currency System Is Here To Stay: Mthuli

Multi-Currency System Is Here To Stay: Mthuli

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The government has revealed that the use of multicurrency will continue up to 2025 until the end of the National Development Strategy 1 (NDS1), Great Dyke News 24 reports.

Addressing the media in the capital today, Minister of Finance and Economic Development Professor Mthuli Ncube said during the period, citizens are free to use the United States dollar and domestic currency for transactions.

“The use of the multi-currency system will continue over the NDS 1 period and we want to assure the market that there is no reversal of pricing around this exchange rate system that we have adopted.

“We want to assure the public that this will continue until 2025, we have a situation where you can make use of the US dollar for domestic transactions or make use of the domestic currency and you are free to choose.

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“The government has clearly stated its intention of maintaining a multi-currency system based on the dual use of the US dollar and the Zimbabwe dollar in the main. However, the market lacks confidence in the multi-currency system.

“The market’s lack of confidence in the multi-currency system is causing us challenges and I want to assure you that this multi-currency system is here to stay in the foreseeable future,” he said.

More to follow…..

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