Zimbabweans queue outside banks as new currency begins trading

Queues formed outside banks in the Zimbabwean capital Harare on Friday as the central bank opened trading of a new currency, a Reuters witness said.

Zimbabwe’s central bank announced on Wednesday that it would scrap the peg between its quasi-currency bond note and the U.S. dollar.

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In order to create a new currency from the bond notes and notional electronic dollars that will be known as (Real-time gross settlement) RTGS dollars.

The central bank sold banks U.S. dollars at a rate of 2.5 RTGS dollars on Friday, Governor John Mangudya said. (NAN)