A notice from the Zimbabwe Revenue Authority said on Friday that “the new currency affects clearance of designated goods,” with duty payable funds from foreign currency accounts for importers being “converted” at the prevailing exchange rate.
RBZ governor John Mangudya has pegged the exchange rate for bond notes against the US Dollar at 1:2.5, while the parallel market has somewhat stabilised at 1:3.5. Zimbabwe denominated its mobile money, electronic funds and bond notes as RTGS dollars in what has been seen by many as a precursor to a new local currency.
Rangarirai Mberi, a spokesperson for Metallon Gold, said this week that the chamber of mines of Zimbabwe and mining companies in the country were still assessing “the impact of measures announced in the recent monetary policy” statement.
Although the government has lifted foreign exchange controls, companies have started to feel the impact of the new measures.