Zimbabwe Enforces Official Rate for New ZiG Currency, Sets Penalties

May 9, 2024, 03:58 PM

Zimbabwe is implementing strict regulations to stabilize its new ZiG currency, mandating that all transactions within the country use the official exchange rate. The government plans to introduce penalties for individuals and businesses that fail to comply with this directive. Additionally, measures are being taken to curb the use of informal channels like WhatsApp for currency trading, which authorities believe undermines the ZiG currency's value.