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THE introduction of a local currency marked a turning point in Zimbabwe’s monetary regime and the country will not revert to the basket of multi-currencies, the President has said.
The mono-currency system will see those dealing in forex illegally and manipulating the money market being dealt with in terms of the law.
Zimbabwe adopted the use of multiple currencies in 2008 to contain runaway inflation.
However, the arrangement was not economically sustainable.
ALL SHARE
The All Share index advanced by 0.3 points (0,13 percent) to close at 232.29 points. Zimplow Holdings Limited gained $0,0900 to close at $0,6000, African Distillers Limited added $0,0900 to close at $3,1900 and Old Mutual Limited gained $0,0650 to close at $35,5644. First Mutual Limited advanced by $0,0540 to close at $0,3240 while Dairibord Zimbabwe Limited increased by $0,0245 to close at $0,3650. Negative end were in Pretoria Portland Cement Company Limited which eased $0,1000 to close at $4,1000, African Sun Limited which traded $0,0300 lower to end at $0,2300 and Padenga Holdings Limited lost $0,0225 to close at $2,4775. Innscor Africa slumped by $0,0177 to close at $3,7000 while Mashonaland Holdings Limited dropped by $0,0096 to end at $0,0904.
Bongani Ndlovu