Gazetted 14-06-2023

WHEREAS the protection of the domestic currency is an aspect of monetary sovereignty exercisable by the President by virtue of his prerogative powers;
AND WHEREAS the value of the Zimbabwe dollar is largely pegged to the value of recognised foreign currencies commonly used as a means of international payments;
AND WHEREAS the volume of outbound payments made from Zimbabwe in those foreign currencies is exerting substantial downward pressure on the value of the Zimbabwe dollar;
AND WHEREAS the burden of servicing our foreign debt also puts an indirect but significant strain on the value of the Zimbabwean dollar;