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Reserve Bank Says Multi-Currency System Dead

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Reserve Bank of Zimbabwe on Tuesday conceded that the multi-currency systema dopted in 2009 was effectively dysfunctional with the economy trading solely on the United States dollar, which has resulted in spiking cash demand, fuelling shortages. Early this month, the central bank announced the introduction of bond notes as part of a raft of measures to promote exports and ease cash shortages. ......

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