The Confederation for Zimbabwe Industries (CZI) has backed down on its earlier claims after public row with the Reserve Bank of Zimbabwe.

The row was over the central bank’s auction system and its handling of the foreign currency crisis.

In response, the central bank reprimanded the industries body, saying its claims we’re baseless and unfounded.

RBZ said CZI’s comments would cause discomfort in the market.

Meanwhile, CZI also backed down on its fears that the government may return to sole Zimdollar use.