RBZ dismisses reintroduction of local currency

by Rugano Dzikira

The Reserve Bank of Zimbabwe (RBZ) has moved to dismiss issues surrounding the reintroduction of local currency as fake news, fabricated to cause despondency in the national economy by sections from the media.

In a statement, the central bank said, “The Reserve Bank of Zimbabwe would like to advise members of the public to ignore and dismiss the social media article on the reintroduction of the local currency with the contempt it deserves.”

“The country shall continue to use the multi -currency system in line with Government Policy. The article is meant to cause unnecessary panic and despondency within the national economy,” it read.

Whilst social media is known to relay reliable urgent news at times, it has also gained notoriety in Zimbabwe for unfounded issues of interest to the public, and this is one of such, given the cash crisis prevailing in the country.

“The Reserve Bank shall continue to procure foreign currency cash to support the multi-currency system. The Bank would like to urge members of the public to use social media appropriately and not for spreading fake news,” added the central bank Governor, John Mangudya.

This comes at the wake of Government’s announcement that it would introduce a local currency in due course when the economy has stablilised.