Meanwhile, the MPC engagement noted that the parallel market exchange rate had stabilised since the beginning of February 2022 and made deliberations focused on ensuring that the exchange rate remained well anchored and that current short term exogenous inflation pressures from the global economy and ad...
The foreign exchange auction system, introduced in June by the central bank, has been credited with stabilising the exchange rate. In an update on Tuesday, RBZ governor John Mangudya said some banks were breaching one of the foreign exchange auction rules which mandates banks to ensure that appli...
Last month, the central bank boss revealed that he had given banks seed capital to kickstart interbank trading at a rate of 2,5 to the US dollar. On Monday, Mangudya said, on average, about US$12 million has been traded on the inter-bank foreign exchange market since its launch three ...