African country to criminalize use of dollar ...News

Zambia’s central bank has introduced a ban on foreign currency in domestic transactions The Bank of Zambia has drafted new rules aimed at curbing the use of foreign currencies in local transactions, particularly the US dollar, the country’s news agency said on Monday. The new currency regulations will reportedly be issued as a statutory instrument by the minister of finance and national planning. Once it comes into force, it will require the Zambian kwacha and its subunit, the ngwee, to be used for all domestic public and private transactions. The central bank has raised concern over the increasing use of the doll

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