DESCRIPTION

The RBZ (Reserve Bank of Zimbabwe) has gazzetted today, the 24th June, 2019 that with immediate effect, they banned the use of foreign currencies as legal tender in Zimbabwe after eleven (11) years of being legal. This was announced in a Statutory Instrument 142 of 2019. The government gazette instructs that the United States Dollar,British Pound,  South African Rand, Botswana Pula and are now  illegal tender in Zimbabwe.

The SI reads in part:

Subject to section 3, with effect from 24th June 2019, the British pound, United States Dollar, South African Rand, Botswana Pula and any other foreign currency whatsoever shall no longer be legal tender alongside the Zimbabwe dollar in any transactions in Zimbabwe.

Legal tender is now Zimbabwe Dollar  or Bond Note which is regarded as par to the new Zim Dollar Currency which is not yet in circular and Internet/Online Rtgs Banking.