Mangudya Says Transactions Between Zim and China Be Settled in Yuan

Zimbabwe continues to be a multi currency economy whilst trying to find its feet. RBZ governor John Mangudya has called for all transactions between Zimbabwe and China to be settled using China’s currency the Yuan. This comes as trade and Investment between Zimbabwe and China continue to grow.

Speaking at the China (Zhejiang)-Zimbabwe Business Forum, Mangudya said,

We need to make sure that the Chinese currency is found in Zimbabwe. We also need to move with speed in making sure that there is and there are settlements of transaction between Zimbabwe and China using Yuan as opposed to use of any other currencies…This will go a long way in increasing trade between Zimbabwe and China; it will go a long way in increasing investment in Zimbabwe and China and vice versa.