Govt Committed To Saving Zimbabwe Dollar, Says Kuda Mnangagwa
1 year agoThu, 28 Mar 2024 11:06:25 GMT
Deputy Minister of Finance, Economic Development, and Investment Promotion, David Kudakwashe Mnangagwa, has addressed growing concerns over the sudden surge in Zimbabwe’s exchange rate.
In a statement issued this Thursday, March 28, Mnangagwa said the delay in releasing the monetary policy statement (MPS) has fuelled anxiety and curiosity among citizens.
Mnangagwa said Zimbabweans who hold the local currency should avoid hedging against it to protect themselves from potential losses adding that the government remains committed to maintaining currency stability. Reads the statement:
We have been receiving enquiries about the surge in the exchange rate, which right now can be attributed to the anxiety and anticipation of the upcoming Monetary Policy Statement which is around the corner.
If I were to irresponsibly give unsolicited advice, I would urge Zimbabweans with their hard-earned ZWL not to hedge against it.
Government is committed to ensuring that there will be no loss of value through the introduction of currency stabilisation measures.
Examples of currency hedging include currency forward contracts, which are straightforward agreements to exchange a specific amount of one currency for another at a predetermined exchange rate on a future date.
Critics say the Zimbabwean economy is akin to an aeroplane on autopilot — nobody knows where it is headed or where it will land.
The southern African country is grappling with hyperinflation, currency instability, company closures, job losses, and power shortages, among a myriad of other challenges.
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40 Comments
Anonymous · 1 year ago
This is not news. Why quote a deputy minister? He is not a member of the cabinet. The story is what the substantative Ministers says. This is poor reporting.
Ndini · 1 year ago
kkkkk hanzi Skuru of idelogisty kkkk kkkkk unotaura nyemba. Idelogy hadzishande makafusirwa bamunini. Unoti ZWL inotsigirwa inotengeyi kunze kwenyika imo musina macompany. Zvekutengesa mutakura venyimo, nekuweza zvikeyi kkk vamwe vachigadzira zvikepe nemabullet train. Pepuka.
Ndini · 1 year ago
kuda vashaya nyaya here, inwa mvura vakanyarara haina mabhonzo iyo. Unobva vatongoona kuti zidutununuuuu iro
Chibaba · 1 year ago
Mfana Kuda hapana zvinoziwikanwa
Sunata · 1 year ago
You cannot save a ship on the botrom of an ocean.Let it rest our beloved currency.
Zim dollar · 1 year ago
Dacoal renyu mahwa, tangai hwina world cup and everything will be granted peacefully, easy flawlessly. On the contrary, hezvoness
Bob · 1 year ago
Kuda unotrwara nenjere nyarara unasodya Mari yeku********
Zupuko · 1 year ago
Dr Kuda
zupuko · 1 year ago
thank Dr Kids Munangagwa for saving and reviving our strategic national currency
Dude · 1 year ago
Pardon me do we have a Zimbabwean dollar
1Pasi Pamera Ziso · 1 year ago
Disable Zim switch and Ecocash to push the money changers off the streets and they will return the POS machines to the banks x Real Time Gross Settlement should take a week to clear x The exchange rate will slow down allowing for the reintroduction of cash based transactions in Zwl and US dollars x As long as we have POS machines at street corners and as long as transactions on Zip it and Ecocash are instant the black market economy will continue to hold this country at ransom
Anonymous · 1 year ago
You seem to have some good ideas. Exapand more.
bakafwide · 1 year ago
that Zim is the most educated nation in Africa doubt,how can educated ppl fail to have leggiment current for a record of two decades yeeee so let's agree all of us that we are dunderheads from the head of state to a peasant then God we listen to our humbleness and intervenue and things we start firing besides that dololo takwe pe mangwenu
Justice · 1 year ago
You've got the wrong priorities. Save Zimbabweans whom you are killing. Don't save the dead Zim $.
Yoyoyo · 1 year ago
😁😁🎶Ndingodawo wiwi inini 🎙....ndongodawo wiwi
USA$ Chibaba · 1 year ago
Why should they force upon us a currency which they themselves have long since abandoned? Mumwe akatiza muParliament vachida kumusecha kuti ane bond note muhomwe here.
🧐 🤔 🤨 🙄 · 1 year ago
The truth of the matter, here is
-we are drought hit nation
-we were sanction obliterated but were removed well past their menace
-we have taken up jobs that pay us from negotiations, no tax, no pension, no bank just hand pockets and stock exchange, barter trade etc
-so under these preset conditions, there no way a currency can get back into hood of things unless and UNTIL A NEW CURRENCY IS INTRODUCED , I will opt for coinage, to be higher denomination and notes be the ones running change just that inversion to sleer cut the money change mindset
It's simply a home grown different from rest of the the world, and is so marketing as well tourist and all would want to know how a coin is better than a note
I remember Chinos once raised something like that in parly
· 1 year ago
What are you saying? Pakabviswa kana kudzikiswa masanctions neAmerica wakambonzwa pachitaurwa economic sanctions here kunze kwetwo companies which don't make the Zimbabwe economy? You're making political slogans here.
When sanctions were removed · 1 year ago
Irreparable damage was already done and to worsen the current drought further erodes their p planned policies otherwise there would not have done anything
@@ · 1 year ago
wet dreams Kuku
Mudhibhisi · 1 year ago
Zim dollar is a useless currency, one cannot even save in this currency.It is spend soon after being earned bcz of its volatile nature.I doubt if the gvt will be able to look after all the workers after retirement bcz they hv zero savings bcz of this Zim dollar.Its not money bcz it lacks those characteristics of money.
It's best to best to switch to the more stable US$ since most transactions are in this currency.
Chinoto shamisa ndechekuti chero maministers acho havatambiri RTGS
iyoyi.
Tiriko hedu kudhibha tichikurudzira varimi kutengesa mombe nguva ichipo.
CHITEPO SCHOOL OF IDEOLOGY · 1 year ago
No human being can survive on transfused blood alone. No economy has developed using the US Dollar. We must support our own currency. It is a painful journey but where there is hope, nothing can stop us. Money launderers have been fighting the reintroduction of our currency because they it'll break their cycles. A currency we can control can always help us to build a traceable financial system. For our banking sector to work, we definitely need that currency. Production should back the currency whilst the currency facilitates product competitiveness. We need our Zim dollar.
Yoyoyo · 1 year ago
😁😁 I am Abelina the Wiwi boss
Ilema Zanka · 1 year ago
who is this somnambulist somliquist economy doesn't not run by surname you are zero little boy this is not your father's tuck shop
Hombre · 1 year ago
The ordinary citizen is not concerned about financial or economic terms. By whatever terms, government interventions must ensure that our jobs are secure, new jobs are being created and are able to pay workers enough money for transport, children's school fees, food of their choice, health care, electricity and clean water, rentals etc. This is not daydreaming. We lived this life in the late Rhodesia and early Zimbabwe. We want currency that serves us, not bondpaper that feeds the egos of two or three individuals. The most basic fundamental is that all government policies must serve the people, not the people serving the policies of government.
forwarding Hedger · 1 year ago
If there is no leader then povo lead. tiri kuita mupakashindi, pavanoisa monetary policy inosvika yakabheuka saSikandhela, of Mandela voiceology...
Wuto · 1 year ago
Minister of incompetence and Vene corruption scheme kuda mnangagwa
bakafwide · 1 year ago
anything done by team zanu is bad, rotten, bygone, unsuccessful etc they don't know to touch where it makes the nation happy it's a bunch of clue less cdes haaa soli maningi
If uchidududza... · 1 year ago
Zvakadaro as if holi you are just saying nothing but..... 🤷♂️
Baddest · 1 year ago
unobva watoona kuti hapana chozivikanwa we are doomed🤦♂️
Anonymous · 1 year ago
Like Father, like Son. Empty promises while the masses suffer.
2
doug · 1 year ago
What is happening to the Zimbabwe dollar for government to want to save it? My Zimbabwe dollar now will be less in value within a few hours, and I cannot keep it basing on the talk of stability without a time scale. To the accountants and economists, do we have the fundamentals for a stable local currency?
wastak · 1 year ago
Hapana chimwe chaungakwanise kutaura pane kuda kuti uyite kunge mune zvamurikugadzirisa vamnangangwa vazhinji vaitaura seizvozvo asi vakazvitadza gadzirisai industry first iyite full function ma product awande muwane foreign currency yakawanda not yekutenga ma export nema import afambirane mombotangira ipapo even ma money changer anoita mashoma vawane mabasa ndozvimwe zvirikukonzeresa nekuti vanenge vachida profit chero vending moti inyika here yakadaro ko zimra tax inoiwanapi even ma civil servant's pay inobvepi kana vanhu vakuita ma company asiri registered mvenge mvenge chero mukaita ma policies akadii hazvibude industry first mochinja zvimitemo zvenhu zvisiri freindly Kuma investor's
Anonymous · 1 year ago
Ichokwadi iyoyo
