Zimbabwe's central bank: no rush to drop the US dollar
The move to a single currency will follow eight published conditions, and dollar accounts and contracts will be honoured.
Bulawayo — Zimbabwe will move to using only its own currency gradually and only when the market is ready, Reserve Bank of Zimbabwe deputy governor Innocent Matshe told a pre-budget seminar in Bulawayo.
Matshe said an economy that supports its own industry needs its own currency, but that rushing into a single currency would be unwise. The Reserve Bank and Treasury will be guided by eight preconditions that have been made public and will be monitored and reported on regularly.
He sought to reassure businesses and savers: moving to one currency will not mean forced conversion of US dollar deposits into Zimbabwe Gold (ZiG), and all contracts and foreign currency accounts will be honoured.
He also said close coordination between monetary and fiscal policy has helped stabilise the economy.
Zimbabwe has used several currencies since 2009, after hyperinflation destroyed confidence in its own. It later reintroduced a local currency while keeping the US dollar in wide use.
Source: 263Chat via AllAfrica, 29 October 2026.
