Chinese Yuan now acceptable currency in Zimbabwe

The Chinese Yuan, Indian Rupee, Japanese Yen and Australian Dollar are now legal currencies in Zimbabwe and individuals and corporate organisations can open accounts in these currencies, central bank acting governor Charity Dhliwayo said today. She said in her monetary policy statement that trade between Zimbabwe and China, India, Japan and Australia had grown appreciably. It was therefore important to include their currencies in the basket of already circulating currencies which are: the Botswana Pula, British Pound, Euro, South African Rand and the United States Dollar. South Africa remains Zimbabwe’s biggest trading partner followed by the European Union and China and accounts for 40 percent of total exports and 60 percent of total imports. Zimbabwe is still under European Union, United States and Australian sanctions though the European Union has removed most of the individuals leaving only 10 and one company.

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