While the introduction of a new currency has brought stability, analysts warn that pegging the exchange rate could lead to complications in managing the money supply and interest rates.Source - the independent More on: #RBZ, #Zimbabwe, #Economy Comments ...
"We have been receiving enquiries about the surge in the exchange rate, which right now can be attributed to the anxiety and anticipation of the upcoming monetary policy statement which is around the corner," Mnangagwa said."If I were to irresponsibly give unsolicited advice, I would urge ...
This comes only days after the central bank ditched its parity policy on the US dollar to RTGS dollar exchange rate with regards procurement or allocation of foreign currency for the importation of fuel into the country. The new policy also now dictates that oil marketing companies, which used ...
The source said when Exchange Control Directive RU131/2019 was issued on September 27, the RBZ prescribed an interbank rate of 13,2566 (the so-called ‘set mid-rate’) to the United States dollar, which would calculate to around 15,7 when they factor in the set margin. “Trades h...
and promoting trading on the interbank foreign exchange market. There is also a general feeling that the central bank is “managing” the interbank rate to prevent it from “freely” rising according to market forces, which many believe was being done to rein in rampaging inflation rate. ...
“If we close the free market, we create the parallel market. Between July and September there was consistency between parallel and official exchange rate of 15-20 percent disparity. “Our wish is to narrow the gap, which is why the RBZ adopted the willing-buyer, willing-seller exchange rate...