Dollar cash crunch prompts calls for Zim to adopt the rand

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Harare - Calls for Zimbabwe to adopt the use of the rand as a currency of choice have grown again as the preferred US dollar is fast disappearing, resulting in an unsustainable liquidity crunch.

The business community - led by the Confederation of Zimbabwean Industries (CZI), economist and University of Zimbabwe lecturer Professor Tony Hawkins and government adviser Professor Ashok Chakravarti - has called on Zimbabwean authorities to adopt the rand.

Speaking at the CZI 2017 Economic Outlook Symposium on Thursday, CZI president Busisa Moyo said his organisation will approach government with a draft legislation to push for the adoption of the rand as the main transacting currency.

Support independent journalism
Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism. You can cancel any time.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
15.94
+0.8%
Rand - Pound
21.14
+0.6%
Rand - Euro
17.99
+1.1%
Rand - Aus dollar
11.23
+0.2%
Rand - Yen
0.14
+1.4%
Gold
1,778.62
-0.3%
Silver
22.31
-1.0%
Palladium
1,848.50
+1.8%
Platinum
941.50
+0.6%
Brent Crude
69.88
+0.3%
Top 40
64,599
+0.5%
All Share
71,017
+0.3%
Resource 10
67,425
+1.4%
Industrial 25
93,388
-0.4%
Financial 15
14,090
+0.8%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot