“We are in a transition but the trick to de-link from the United States dollar is exchange rate stability. If we can keep the exchange rate stable for six months to a year, it can help us de-link,” he said. The inter-bank market was established in February by the Reserve Bank of Zimbabwe as part of currency reforms under which the Zimbabwe dollar was re-introduced in June as a mono-currency. As of Friday, the interbank rate stood at 15,9361 to the US dollar. “We need to produce so that we can feed the nation, export and generate foreign exchange,” he said.

Source: The Local November 17, 2019 22:07 UTC