ZANU PF crusader known on social media as Matigarihas advised Zimbabweans to convert their foreign currency into the local currency for local transactions.
These remarks come when yesterday the Reserve Bank of Zimbabwe relaxed Statutory Instrument 142 of 2019 which banned the use of all foreign currencies for domestic transactions.
The central bank this Thursday authorised citizens to use their free funds for domestic transactions adding that the move was triggered by the outbreak of the coronavirus pandemic. Matigari posted on Twitter and said:
Some folks are very excitable about RBZ directive. @hwendec especially. It’s stupid to ask People to use cash as it spreads #COVID19. So my reading of this is:
-Convert yo free funds to ZWL digitally & pay.
-no trade in USD -rate will be 25:1
-this ISN’T multicurrencies!
Some analysts say that the move is a blunder and a strategy to harvest the people’s money. They say that the lockdown definitely results in low imports hence less demand for the foreign currency.
They say the government intends to buy tobacco at a fixed rate which is tantamount to buying it for a song.
They further note that Zimbabwe should have used the opportunity to revive the collapsed industry which would bring value to the Zimbabwean dollar as a few would need to be imported.
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