Despite the vanishing of the United States dollar from the market and the cash shortages buffeting the country, the Reserve Bank of Zimbabwe (RBZ) says it is importing $10 million of the greenback weekly.
RBZ governor, John Mangudya said the importation of the dollar was inconsistent with maintaining a dollarised economy.
“Yes, we import cash almost every week and we are now importing $10 million on a weekly basis. When we say we import cash we say we import dollars because we said we want to continue using the dollar in this economy,” he told NewsDay last week.
This comes after Mangudya said last week that cash deposits at banks and nostro holdings had increased by 50% to $450 million. He said $140 million in bond notes, $23 million in bond coins and an estimated $400 million to $600 million was circulating in the economy.
Mangudya bemoaned the inefficient money circulation, saying it was working against the growth of the economy.
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