Zimbabwe banks resume trading in forex
The debate as to whether Zimbabwe now has an official currency or not has remained topical (high) on the streets of Harare. This follows an announcement on Wednesday by the country’s central bank that it was redenominating the bond notes, coins, and RTGS balances to RTGS dollars, which can now be traded on the foreign exchange market. Analysts say the move is a technical but not official admission by the authorities of the prevailing economic conditions. The RTGS dollars have been added to the basket of currencies that the country has been using since dollarization in 2009 when the country demonetized the Zimbabwean dollar.
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