Zimbabwe Adds Yuan to Rupee as Local Currency Revival Rejected

Zimbabwe’s central bank added the Australian dollar, Chinese yuan, Japanese yen and Indian rupee to currencies allowed for trading, while ruling out reviving the Zimbabwean dollar outlawed five years ago.

Zimbabweans, who already use the U.S. dollar, South African rand, British pound and Botswana pula, will continue to bank in those currencies, acting central bank Governor Charity Dhliwayo told reporters in the capital, Harare today. The southern African nation’s finance ministry will provide a $150 million to $200 million facility to refinance the central bank and restore its position as “lender of last resort,” she said.

continue reading at businessweek.com

0 Comments

Leave a comment

Your email address will not be published. Required fields are marked *