Zimbabwe bans foreign currency use

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Finance Minister of Zimbabwe Mthuli Ncube announced on 24 June that foreign currency is no longer acceptable for local transactions; the Zimbabwean dollar is now the only accepted form of currency.

According to fin24, a statement made in a Statutory Instrument on Monday said that the US Dollar, South African Rand, British Pound, the Botswana Pula and ‘any other foreign currency will no longer be legal tender alongside the Zimbabwean dollar in any transactions in Zimbabwe.’

The new finance measures have been legally effected under The Reserve Bank of Zimbabwe (Legal Tender) Regulations 2019.

The statement continued, ‘The opening or operation of foreign currency designated accounts… shall continue to be designated in the foreign currencies with which they are opened and in which they are operated.’

For more information on how this will affect your travels and to book your next business trip to Zimbabwe contact your Corporate Traveller Travel Manager today