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RBZ quashes Zim-dollar speculation

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THE Reserve Bank of Zimbabwe (RBZ) insisted Monday that there was no going back on the government pledge to stick with the multi-currency system for the next five years.
A deepening liquidity crisis has sparked renewed speculation, even in government circles, that the Zimbabwe dollar which was ditched in 2009 may be brought back, possibly to circulate alongside the foreign currencies.
But in a statement Monday, acting RBZ governor Charity Dhliwayo ruled out any “imminent return” of the Zimbabwe dollar which was ditched after becoming virtually worthless.
Dhliwayo said the central bank was concerned “that some people continue to spread unsubstantiated claims on the imminent return of the Zimbabwean dollar”.
“There have also been press reports suggesting that Fidelity Printers and Refiners, a subsidiary of the Reserve Bank, is putting in place measures in preparation for the resumption of the printing of the local currency,” said Dhliwayo.
“The Reserve Bank wishes to unequivocally put it on record that such reports have no basis whatsoever. As Monetary Authorities, we wish to assure the business community and members of the public that there are no plans to reintroduce the Zimbabwean dollar in the near future.
“We, therefore, urge members of the public to conduct their business normally and refuse to be swayed by these falsehoods.”Advertisement