President Emmerson Mnangagwa has insinuated that Zimbabweans should rejoice because the Zim Dollar is back.
Speaking on the sidelines of the African Union-United Nations Wildlife Economy Summit in Victoria Falls president Mnangagwa said his government must be given credit for bringing back normalcy.
Zimbabwe has gone back to normalcy and the normalcy is that a country must have its own currency. We were living in an abnormal situation and you must congratulate us for becoming normal again
The Zim dollar, however, has been met with skepticism all over Zimbabwe with banks hiking interest rates and individuals withholding their cash in some instances. However Black market rates have reportedly weakened as of this afternoon.
It is still not clear how the market will react to this new development as today is day one after the RTGS has become a legal tender. We will keep updating you as we gather more information about the situation.