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 ...
"Entities were borrowing substantial amounts of money from banks, they would then use that money for the purposes of manipulating the exchange rate. They would take the funds today, when there is a certain rate, after a month or two, they then repay the loan in full, knowing that it wil...
This comes as petroleum marketers will from today have to procure foreign currency for importation of fuel on the interbank foreign exchange market, as Government moves to enhance efficiencies in the procurement of fuels into the country. “In this regard, all the foreign exchange requirements for ...
While the Zimbabwe dollar has been allowed to gradually weaken from parity with the greenback in February 2019 to almost 109 to the dollar today, it trades at over 200 to the dollar on the black market, stoking inflation. Business leaders have blamed the disparity on a lack of foreign curren...