According to the International Monetary Fund (IMF), the inflation had scaled past 500 billion percent.
“It is hereby notified that His Excellency the president, in terms of Section 2 of the Exchange Control Act (Chapter 22:05), has made the following regulations: these regulations may be cited as the Exchange Control (Exclusive Use of Zimbabwe Dollar for Domestic Transactions) (Amendment) Regulations, 2020 (No.2), the Exchange Control (Exclusive Use of Zimbabwe Dollar for Domestic Transactions) Regulations, 2019, published in Statutory Instrument 212 of 2019, is amended by the insertion of the following Section after Section 5.“In terms of the Statutory Instrument, people are allowed to pay for goods and services chargeable in Zimbabwe dollars, using foreign currency at the prevailing rate on the date of payment.“The payment envisaged in Subsection (2) may be done electronically through a foreign currency account or in cash or through any electronic payment,” the Government Gazette reads.
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