(Ecofin Agency) - In Zimbabwe, US dollar-denominated transactions will now be limited, Reuters, indicated this week citing a release published by the Central Bank of Zimbabwe.
In the framework of the new measure, commercial banks will have to limit transactions in US dollars to firms and individuals that have to send money abroad. This measure is initiated after the country introduced a new currency (RTGS dollars) and the discontinuation of the at par rate with US dollars for a floating rate.
Zimbabwe is trying to emerge from an economic crisis that worsened during the last years of Robert Mugabe’s presidency. The new order confirms the authorities’ intention to stabilize the country’s financial sector to attract investors and boost growth.
This week, many local media announced a $600 million support to the Southern African country.
Moutiou Adjibi Nourou