Zimbabwe will not return to using the US dollar as its currency, but will instead continue using the new Zimbabwe dollar and a mix of foreign currency, which includes the greenback.
This is according to the country’s central bank governor, John Mangudya.
Earlier this week he said nearly 60% of bank deposits were made in the local currency, which meant that there was not enough liquidity in Zimbabwe to return to a dollarized economy.
Mangudya said that the current system which used a mix of foreign and local currency was ideal for ensuring the economy was competitive and would grow.
Zimbabwe first abandoned its currency in 2009, following a period of hyperinflation. In 2019 a new Zimbabwe dollar was introduced but it is used alongside foreign currency.