Zimbabwe government plans to have new currency by the end of 2019

Zimbabwe government plans to have new currency by the end of 2019

The Zimbabwe currency has been very weak when compared to the rest of the world, but the government hopes to have a whole new currency before the end of the year. President Mnangagwa announced the plan on Friday, 7 June.

PAY ATTENTION: Click “See First” under the “Following” tab to see Briefly.co.za News on your News Feed!

Zimbabwe's president, Emmerson Mnangagwa, announced on Friday, 7 June, that the government wants to introduce a new currency by the end of 2019.

EWN reports that most Zimbabwean citizens were using the local electronic RTGS dollars that were introduced in February, but it lost its value against the US dollar.

This led to high inflation and serious price hikes.

PAY ATTENTION: Do you want to know what's trending on Briefly.co.za? Join our WhatsApp group today.

However, it doesn't look like a new currency will restore the confidence of the Zimbabwean public.

Briefly.co.za gathered that many people miss the days when the US dollar was used in the country, but it has since all but disappeared.

People who still had a few dollars scored great discounts at restaurants and shops and even got to jump queues at service stations.

When the government has introduced its new currency, it will not be possible to use foreign money for local transactions anymore.

READ ALSO: Assassins reportedly tried to take out SABC's chief audit executive

Enjoyed reading our story? Download BRIEFLY's news app on Google Play now and stay up-to-date with major South African news!

Source: Briefly.co.za

Online view pixel