De-Linking Our Economy From The USD Will Bring Exchange Rate Stability- Mthuli

Last updated on September 11th, 2021 at 03:13 pm

The Minister of Finance speaking at the Zimpapers breakfast meeting on Friday said it would take time to reach the de-dollarisation target as very few economies had successfully de-dollarised, the Herald reports.

The treasury boss according to the publication said:

We are in a transition but the trick to de-link from the United States dollar is exchange rate stability. If we can keep the exchange rate stable for six months to a year, it can help us de-link

Zimbabwe banned the multi-currency system on 24 June 2019 in favour of the mono currency and has since introduced new notes to work concurrently with the quasi currency that was introduced in 2016.