Zimbabwe to use US dollar until 2030

ZIMBABWE Government says the US dollar will remain legal tender until 2030. This extends the multicurrency system by another five years.

Last year, Government gazetted SI 118A which guaranteed that Zimbabwe would stick to the multicurrency system until 2025. This meant that the USD could be used as legal tender in Zimbabwe until 2025, trading alongside the Zimdollar.

With 2025 approaching, there was worry over government’s future currency policy. This uncertainty has seen many banks reluctant to give long-term USD loans to businesses, because there were unsure about what would happen beyond 2025.

Friday’s SI218/2023 now extends that deadline from 2025 to 2030.

newZWire