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Zimbabwe to Allow Dollar Trading to Ease Currency Squeeze

  • Central bank starts testing electronic transfers of dollars
  • Move is important to normalize monetary system, Fitch says
Barclays Among Zimbabwe Banks Given Ultimatum by Biti on Bills
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Zimbabwe said it will allow companies and individuals to transfer dollars electronically, as it looks to ease a crippling scarcity of foreign exchange that’s sent the economy into meltdown and triggered protests.

The Reserve Bank of Zimbabwe has upgraded its systems to allow for such transactions and will run testing until Feb. 1, after which it plans to go live, the bank said in a statement Monday.