John Mangudya, Governor of the Reserve Bank of Zimbabwe, announced on June 26 that the bank will issue an extra $400 million in bond notes and coins to cover the gap left by the prohibition of the use of hard currencies, mostly U.S. dollars and South African rands, which has been declared illegal.
NGO’s, embassies and other foreign organizations are exempted for the rule, and can continue paying salaries in foreign currency.
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©2019 MRI BANKERS’ GUIDE TO FOREIGN CURRENCY™
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