Chronicle Editor
Mashudu Netsianda, Deputy News Editor
THE Reserve Bank of Zimbabwe Governor Dr John Mushayavanhu is today meeting delegates attending the Unpacking of the Monetary Policy Statement Breakfast Meeting at the Zimbabwe International Exhibition Centre in Bulawayo.
Two weeks after its official launch, the new currency remains stable with major business players and consumers across the country smoothly conducting transactions following the successful conversion of Zimbabwe dollar balances, amid marginal gains against the United States dollar.
Coming from a background of wild exchange rate volatility, price escalation and speculative market, the new currency is promising to reverse the tide as monetary authorities maintain the multicurrency regime, while paving the way for de-dollarisation in the long-term.
The ZiG replaced the inflation-hit Zimbabwe dollar, which had fallen to around $33 000 against US$1 on the interbank market and traded above $40 000 to US$1 on the parallel market.
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