Zimbabwe Ends Decade of Dollarization in New Currency Reform
Published on: Monday 24 June 2019
Zimbabwe made its interim currency the country's sole legal tender on Monday, ending a decade of dollarization and taking a another step towards relaunching the Zimbabwean dollar.
The central bank also hiked its overnight lending rate to 50% from 15% as a part of a set of measures to protect the RTGS dollar introduced in February.
"The march towards full currency reform is part of our transitional stabilization program," Finance Minister Mthuli Ncube said in a video posted on Twitter.
