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.

In order to create a new currency from the bond notes and notional electronic dollars that will be known as RTGS dollars.

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