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– Chronicle

THE Reserve Bank of Zimbabwe (RBZ) has dismissed reports circulating on social media alleging that the country has banned transacting in foreign currency on local transactions.

RBZ Governor, Dr John Mangudya, clarified the issue in a statement yesterday in response to public anxiety.

“The bank has noted with serious concern the continued circulation of false and malicious articles on social media alleging that Zimbabweans will no longer be able to pay for goods and services in foreign currency, particularly one article captioned ‘Foreign currency no longer legal tender’,”

he said.

“These articles and statements are false and should be treated with the contempt they deserve, as there is no policy or law that prohibits the use of foreign currency in Zimbabwe as alleged.”

The Governor said the articles were at the behest of irresponsible, mischievous and malicious people who are always bent on purveying false statements calculated to cause unnecessary anxiety, panic, alarm and despondency within the economy.

“The statements are also calculated to discredit Government and the bank’s progressive efforts and achievements in stabilising and growing the economy,”

he said.

“The bank wishes to reiterate that the public can pay for goods and services in local currency or foreign currency in accordance with the laws of the country and that they should ignore the malicious rumours being circulated on social media.”

Meanwhile, president of the Confederation of Zimbabwe Retailers (CZR), Mr Denford Mutashu, also issued a statement assuring the transacting public that the use of foreign currency was still permissible as guided by monetary regulations.

“There is no policy that has outlawed the use of forex in Zimbabwe. The transacting public can still pay for goods and services in the currency of their choice, either local ZWL currency or foreign currency anywhere in the country,”

he said.

“Reports circulating on the social media to the contrary are simply malicious and untrue. The retail and wholesale sector will support Government efforts to stabilize the economy, inflation and general pricing across sectors.”

Mr Mutashu said the continued engagements between the Government, business and labor was not only progressive but also noble and hoped such collective focus would contribute to economic growth towards Vision 2030.

“CZR urges business community to remain responsible in its pricing and protect the vulnerable in our society. The Government should maintain policy consistency and not let the social media rumor mill cause unnecessary panic through policy manipulation,”

said Mr Mutashu. — @okazunga

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