New currency stands the first test and silences the fear of the unknown in Murambinda
The new currency stands the first test and silences the fear of unknown as it was warmly received in Murambinda growth point and it is business as usual from both parties.
The recently launched currency Zimbabwean Gold (Zig) has proven to stand the first test of time and silences the fear of unknown in eyes of the public.
Conspiracies and expectations based on the past experiences were all proven wrong this time and confidence is gradually being restored in the local currency and banking system in general.
Unlike in the past, people had fear of the unknown in the growth point and remote areas, as they were more gullible to social media fake news and conspiracies on the new currency.
Despite all the conspiracies and dark humor, the currency was easily embraced in the Buhera constituency and it has maintained the same value of 13.56 the official inter-rate gazetted by the government and reserve bank of Zimbabwe.
The reserve bank is rewriting history in the efforts to combat the hyperinflation and ensuring business stability as the Real Time Gross rtgs was eroded by the inflation trading at $1 usd to 40000 rtgs at the parallel markets, putting business at risk of closure unless transacting in the foreign currency as to evade the rtgs which was losing value on daily basis.
In Buhera the new currency comes into circulation at the same time casual workers employed by the ministry of local governance and public works have received their salaries, which saw a hive of activities in Murambinda and a brisk in business as people were experiencing the value of Zig.
People were smiling all the way to the bank and supermarkets who are operating at the official rates giving people satisfaction and restoring confidence in the new currency.
The fear of the bearer cheque era of scratching zero’s from trillions and billions, these past experiences and the recent hyper-inflation of the rtgs, all this sub-consciously intrigued fear of the unknown in Murambinda as many conspiracies were shared among villages who had already lost hope before the money circulation.
Characteristics of a good currency is seen through disposal income and buying power , casual workers could be visibly seen purchasing in bulk from retails offering services at the official inter-bank rate which is 13.57 as of today without giving second thoughts or looking for the black market.
During a survey carried out by this publication in and around Murambinda, the Zimbabwean Gold is being accepted by the majority entities and sole traders which is a positive strides and the illegal money changers are operating in shadows as they were nowhere to be found on their usual spots in the bus terminus.
Night’s clubs, farmers markets, pirate’s taxis and those bulky shops which breaks units who are usually operate in USD only or parallel markets rates are complying and accepting the new currency at no extra cost which has boasted people’s confidence in the currency.
This has made the currency to stand the first test which is reception and the fear of the unknown based on previous instances.
Confidence on the Zimbabwean gold (Zig) is currently being built gradually in Murambinda and the Buhera constituencies at large.
Individuals who speaks to this publication expressed confidence in the Zig currency as of now and they are optimistic it remains the same in the near future.
Tungamirai Chihabu a sole trader said, the new currency saved his business from drowning from the prevalent inflation rate which had hard-hit the rtgs despite having the fear of the unknown on the new currency due to conspiracies his hopes are high again as all his supplies are accepting the new currency which made it easier for him to operate, he said.
Edison Chitumbura shared the same views, saying he was skeptical of the new currency if it will stand the test of time with the black market but now he is assured especially with the heavy crackdown on illegal forex dealers by the responsible authorities in Murambinda.
He expressed confidence the new currency and encourage people to shun from black markets and reporter all those dealing in illegal forex trading.
One Mavis Matarutse applauded the efforts by the Zimbabwe republic police and the financial intelligence unit for trying to curb the all illegal forex activities which intrigues spiraling rates.
Another business expert Mr. Tinotenda Tirivai was of the view that the reception in Murambinda and the whole constituency shows people’s confidence in the new currency and this is a positive motion which the responsible authority needs to maintain by close monitoring.
He argues as the citizens to take part in the process by shunning away from the black market and report all malpractices to the police, he said.
Although a few individuals were operating on exorbitant rates taking advantage of the demand, preying on casual workers equating $ 1usd to 20-25 Zimbabwean God (Zig) currency in the growth point which is far above the official rate with $ 6,33 Zig.
Efforts to get comments from the police were futile as the phone was ringing without answer by the time of publishing.
