Explaining the present state of the currency, Mnangagwa said that the ban is only for domestic use of foreign currency and international transactions can be settled in foreign currencies. Zimbabweans have been using electronic payments, the South African Rand, the U.S dollar and in some instances barter for trade transact businesses and to pay for goods and services domestically. President Mnangagwa pledged to revive a fledgling economy after assuming office in late 2017. The latest move has created mixed reactions from the public. At least some percentage of public and a sizeable number of businessmen insist on dollar payments for goods and services, something the government moved to rein in since that had created shortages of currencies and pushed up prices all around. Shops remained closed and in front of the outlets, which were kept open, there were big queues. Another drawback of the earlier system was the perennial shortages of the dollar, which made importation of even essential goods liker food grains, medicines etc difficult. There were reports about some traders making a killing by artificially creating shortages of the dollar and essential goods. One has to wait and see how the new regime of the domestic currency gets rolled out in the coming day
Zimbabwean President Emmerson Mnangagwa said that the ban on the use of foreign currencies by his country should receive kudos and not criticism since it was a historic step that would stimulate the economy and bring macroeconomic stability to the nation. Zimbabwe announced a ban on the foreign currencies on 24th June 2019 to revert to normalcy after a state of abnormality, wherein it remained as the only country in the world without a domestic currency. The country was having the multi-currency regime for the last few years.
