Zimbabwe Bank Changes Rules for Trade Money.
Zimbabwe's central bank told businesses they must give up more of their foreign money. The bank dropped the amount they can keep from 75 to 70 percent. This change helps push people to use Zimbabwe Gold money, known as ZiG.
Bank head John Mushayavanhu shared this news in his 2025 money plan. The bank wants ZiG to be the only money people use by 2030.
"We need steady trade and strong money saved up to make ZiG work well," Mushayavanhu said. The new rule means companies must turn in 30 percent of their foreign cash instead of 25 percent.
The bank created a special account for businesses that want to save their extra foreign money. They can withdraw it as ZiG any time they need it, which helps them feel safe about changing money.
"The bank will take care of the risk when money values change," Mushayavanhu said. This makes things easier for companies that sell goods to other lands.
The bank started a new way to help stores buy goods. It lets them use money already saved at the bank. This means no new money enters the system, which keeps prices steady.
Mushayavanhu said prices should stay low through 2025. Because of last October, he thinks they will rise a bit between April and September. By year's end, he sees prices rising between 20 and 30 percent.
The bank is firm about keeping money tight to ensure ZiG stays strong. They watch the money supply close and step in when needed to keep things balanced.
These changes show that Zimbabwe's bank wants to improve its money system. They aim to keep prices steady, and help businesses grow at the same time.
Zimbabwe's central bank told businesses they must give up more of their foreign money. The bank dropped the amount they can keep from 75 to 70 percent. This change helps push people to use Zimbabwe Gold money, known as ZiG.
Bank head John Mushayavanhu shared this news in his 2025 money plan. The bank wants ZiG to be the only money people use by 2030.
"We need steady trade and strong money saved up to make ZiG work well," Mushayavanhu said. The new rule means companies must turn in 30 percent of their foreign cash instead of 25 percent.
The bank created a special account for businesses that want to save their extra foreign money. They can withdraw it as ZiG any time they need it, which helps them feel safe about changing money.
"The bank will take care of the risk when money values change," Mushayavanhu said. This makes things easier for companies that sell goods to other lands.
The bank started a new way to help stores buy goods. It lets them use money already saved at the bank. This means no new money enters the system, which keeps prices steady.
Mushayavanhu said prices should stay low through 2025. Because of last October, he thinks they will rise a bit between April and September. By year's end, he sees prices rising between 20 and 30 percent.
The bank is firm about keeping money tight to ensure ZiG stays strong. They watch the money supply close and step in when needed to keep things balanced.
These changes show that Zimbabwe's bank wants to improve its money system. They aim to keep prices steady, and help businesses grow at the same time.
