Harare – The Reserve Bank of Zimbabwe has started enforcing usage of the South African rand in the country’s economy to offset cash shortages that have arisen out of the massive adoption of the United States dollar, which business leaders and other officials say is rendering the country uncompetitive.

Zimbabwe adopted a multiple currency regime in 2009 after its own currency tumbled owing to hyper-inflation. However, according to the central bank, there has been stronger usage of the US Dollar while other currencies such as the euro and the rand have been side-lined.

This had led to crippling cash shortages and most banks imposing withdrawal limits. Only about six banks were importing the United States Dollars, living the banking sector cash strapped and unable to meet demand from depositors.