RBZ Adds Chinese, Japanese, Indian And Australian Currencies

Harare,January 29, 2014-Zimbabwe’s Reserve Bank has added four Asian currencies to its multi-currency system, bringing to nine the international currencies circulating in the country.

The bank, which has unveiled its 2014 monetary policy, has cited an increase in trade and investment ties with the countries as the reason for the addition. Individuals and corporations will now be able to open accounts in Chinese Yuan, Japanese Yen, India’s Rupee and the Australian dollar.

The bank’s acting governor Charity Dhliwayo  said: “This should put to rest the widespread circulation surrounding this subject as such the reserve bank in collaboration with the government has no plans to reintroduce the Zimbabwe dollar as widely speculated.”

Trade remains anchored in US dollar and the South African rand, while the British Pound, the Euro and the Botswana Pula have also been part of a basket of currencies introduced in 2009.