The Market Has Self Re-Dollarised- CZR

Confederation of Zimbabwe Retailers president Denford Mutashu speaking to the Newsday said the market had rejected the Zimbabwe Dollar and many businesses formal and informal were already pricing their goods in forex to guard against inflation.

Said Mutashu to Newsday:

If you check internationally, currency is (about) confidence. Currency must have certain traits, characteristics that are not questionable. It should be used as a medium of exchange without either party feeling prejudiced. So in our case, the challenge we will always have is we are coming out of a multi-currency regime.

You can never police a currency or its acceptance in an economy where the market is 70% informal. All those people that you see going to the bank withdrawing cash, you will never see them going back to the bank (to bank it).