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Zimbabwe's government has mandated the use of its new currency, the ZiG, for all transactions within the country. This directive applies to both government agencies and the private sector. To enforce this policy, the government plans to introduce penalties for individuals and companies that do not adhere to the official foreign-exchange rate when trading the ZiG currency. The move comes as local markets continue to favor the US dollar over the new local currency.
⚠️ ZIMBABWE TO FINE BUSINESSES NOT USING OFFICIAL NEW EXCHANGE RATE Full Story → https://t.co/ia6pA7QO4d Zimbabwe will fine businesses using inflated exchange rates as the government battles to maintain the value of its newly introduced gold-backed currency, the Zimbabwe Gold… https://t.co/14xUkmJN70
Zimbabwe will penalize individuals and companies which don’t use the prevailing official foreign-exchange rate to trade it’s new ZiG currency. https://t.co/sW2zmhqmqE
Zimbabwe’s government has ordered its agencies and the private sector to accept its new currency and plans to introduce measures to enforce its use as local markets continue to use US dollars. https://t.co/MeYUSIMt0l
