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Reserve Bank of Zimbabwe Set to Unveil "Structured Currency"

The Reserve Bank of Zimbabwe is poised to introduce a new currency, dubbed the "structured currency," in a bid to stabilise the nation's faltering $
Reserve Bank of Zimbabwe Set to Unveil "Structured Currency"

The Reserve Bank of Zimbabwe is poised to introduce a new currency, dubbed the "structured currency," in a bid to stabilise the nation's faltering dollar. With the Zimbabwean dollar facing significant challenges in comparison to its American counterpart, this move is anticipated to be a crucial step towards economic recovery.

Last week witnessed a rapid depreciation of the Zimbabwean dollar against the US dollar, with exchange rates reaching a staggering 45,000 to 1 before a slight reprieve brought it down to 35,000 to 1, attributed in part to the Easter holiday. This currency weakness has triggered a surge in commodity prices, exacerbating the economic strain faced by the nation. [post_ads]

The launch of the structured currency is expected to be spearheaded by Mr John Mangudya, the outgoing governor of the Reserve Bank of Zimbabwe, alongside his successor Mr John Mushayavanhu. Together, they are tasked with implementing measures to streamline the flow of currency and restore stability to the nation's financial landscape.

Mr Persistence Gwanyanya, an adviser to the Reserve Bank of Zimbabwe, expressed optimism regarding the effectiveness of the new currency, asserting his confidence in its potential to address the prevailing economic challenges. [post_ads_2]

However, Mr. Eddie Mahembe, an economics expert affiliated with Underhill Corporate Solutions, voiced scepticism regarding the viability of the structured currency. Citing past failures and noting the lack of precedent for success, Mahembe cautioned against placing undue faith in this initiative.

As Zimbabwe braces for the introduction of its latest monetary policy, the success of the structured currency remains uncertain, with stakeholders eagerly awaiting its impact on the nation's economic trajectory.

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ZimNewsDaily: Reserve Bank of Zimbabwe Set to Unveil "Structured Currency"
Reserve Bank of Zimbabwe Set to Unveil "Structured Currency"
The Reserve Bank of Zimbabwe is poised to introduce a new currency, dubbed the "structured currency," in a bid to stabilise the nation's faltering $
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