The central bank, Reserve Bank of Zimbabwe (RBZ) has released the latest interbank foreign currency exchange rate and prices for gold coins and digital gold-backed tokens. The tokens represent the digital form of the actual gold held by the RBZ. The value of a ZiG is quoted daily on the ...
THE Reserve Bank of Zimbabwe (RBZ) has adopted a market-determined system for setting exchange rates, with the auction system being replaced by a refined interbank foreign exchange market which connects and allows trading between willing-buyers and willing sellers. The central bank itself will help ...
Yearly inflation rates have since fallen from a high of 837 % to the current 194 % as at April 30, 2021 amid the slowdown of the Zimbabwe dollar depreciation on both the parallel and official exchange rate markets. Several listed companies and banks have since acknowledged the platform’s imp...
This week’s string of decisions followed months of efforts by authorities to stabilise a volatile exchange rate and contain runaway prices and inflation, which spiralled following the return of the domestic currency last year. Both the official and parallel market exchange rates have stabilised sinc...
limits on the operations of bureaux de change have been removed on the cap on margins for banks for interbank foreign exchange transactions. The RBZ further put a vesting period of 90 days on disposal of dual listed securities or shares purchased by investors on the Zimbabwe Stock Exchange. ...
"The black market players have received a go-ahead from the government to bury the ZiG," she cautioned, predicting a sharp rise in inflation rates by the end of the year. Mutema further speculated that the ZiG could plummet even further by December if the current trajectory continues. ...
He said the country was going back to multiple exchange rates and the RBZ ban seeks to try “to close that gap”. “Then over time, obviously cash in circulation will be increased; so we should expect that to happen,” said Prof Ncube. ...
“In order to address this challenge, the Bank is establishing a Zimbabwe Portfolio Investment Fund (the Fund) to facilitate the efficient repatriation of portfolio-related funds to foreign investors invested specifically on the Zimbabwe Stock Exchange (ZSE). The move by Mangudya to encourage foreign...
His remarks come against the backdrop of surges in the monthly inflation rates noted in December and January, which threatened to unleash galloping inflation, which had largely been under control for most of 2020. Between February 2019 and June 2020, when the Reserve Bank introduced the forex au...
With the dropping of the old interbank system for setting exchange rates in favour of more open and transparent auctions, the RBZ wants to eliminate new distortions being introduced by speculators through cheap borrowing. Dr Mangudya said the latest intervention was part of broad measures to stabilis...