THE Reserve Bank of Zimbabwe (RBZ) has ruled out using an interbank-driven exchange rate, saying a rate determined at the foreign currency auction system would remain in force. An interbank rate is the interest rate charged on short-term loans between banks. Banks may borrow or lend money am...
THE Reserve Bank of Zimbabwe (RBZ) has ruled out using an interbank-driven exchange rate, saying a rate determined at the foreign currency auction system would remain in force. An interbank rate is the interest rate charged on short-term loans between banks. Banks may borrow or lend money am...
The Reserve Bank of Zimbabwe -RBZ- has published the interbank foreign currency exchange rate, Gold Coin and Gold-backed Digital Token Prices as at 17 January 2025. Apparently, RBZ recently announced a refined strategy to attract and retain foreign currency, aimed at enhancing the flexibility of ...
“Payment for the gold-backed digital tokens or physical gold coins in Zimbabwean dollar shall remain at the current 20% margin above the willing-buyer willing-seller interbank midrate.” No related posts.
The Reserve Bank of Zimbabwe raised its policy rate to 35 percent from 15 percent in a bid to curb speculative borrowing amid surging inflation. A month earlier, in May this year, Zimbabwe had recorded an annual inflation rate of 785,55. The month-on-month inflation rate came in at 15,...
Government hiked the overnight accommodation rate from 15 to 50 and then 70 percent late last year to discourage speculative borrowing and protect the value of the local currency following its floating on the interbank market for the first time since 2009. ...
While Government adjusted fuel prices to plug arbitrage gaps, which contributed to fuel shortage, prices of local fuel is believed to still be on the lower side, about US$1 per litre at the interbank rate (RTGS$3,45) and US60-70 cents per litre using parallel market rates. Gaps, wildly...
The move by the Reserve Bank of Zimbabwe (RBZ) to make the interbank mid-rate the principal reference rate
RTGS), which is now “freely” floated and traded on the platform. While it was expected that the interbank would resolve issues around allocation and shortage of hard currency, it got off to a slow start as exporters tightly held to their funds amid concerns of perceived low interbank rate...
In his 2024 Monetary Policy Statement, Mushayavanhu said following the establishment of a refined interbank foreign exchange market, all outstanding auction allotments will be converted into the new Zimbabwe Gold (ZiG) currency at the current interbank exchange rate. ...