A man displays old Zimbabwean dollar notes during a protest against the introduction of new bond notes in Harare on August 2016.
ZimSwitch, the national payments platform provider, said processing of local dollar transactions across financial institutions is currently unavailable. “Our system is undergoing changes to accommodate the new ZiG currency over the weekend,” it said in a notice. Although commanding a smaller share of commerce against the US dollar – which accounts for as much as 80% of all transactions – Zimbabwe’s old currency is still used to make electronic payments for basic goods in supermarkets and to pay for utility bills. Public servants also earn part of their pay in Zimbabwean dollars.
Source: Financial Digest (financialdigest.net)
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