The interbank rate is the weighted average of the dealings of commercial banks, with each bank having its ownrates to buy and sell foreign currency. The International Monetary Fund (IMF) early this year also encouraged the Government to accelerate the reform of the foreign exchange market by pro...
The Reserve Bank of Zimbabwe (RBZ) launched its first official foreign exchange auction last Monday, selling US $477,557.91 of the US $5.0mn available at an average exchange rate of ZWD4, 196.58/US$. This move marks a change in the RBZ's previous policy of maintaining the official ...
Cross, however, noted the RBZ may have indirect say in the level of the exchange through levels of interest rates and money supply in the economy. Dr Mangudya said the bank’s weekly auction system, which was introduced in June last year, had grown to become one of the largest and most...
“Export retentions have been increased and standardised at 75% across all sectors, including firms listed on the Victoria Falls Stock Exchange,” central bank governor John Mangudya said as he unveiled a broad range of policy changes to stabilise the economy. The remainder is taken by the RBZ ...
The parallel market rates currently stand at around US$1: ZW$800, prompting concerns by industry players for the gap between the two exchange rates to be closed in order to attain acceptability of the local currency. The trading update shows that allotments on the Main Auction sustained a pro...
"I understand that there are some already resisting the new legislation but we will press on those who continue to charge the parallel exchange rates of above 100 on funds obtained from the auction at ZW$85: US$1 as we move to level the playing field for business and protect the consumers...
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...
The types of LED display including Advertising LED displays, Stadium perimeter LED screen, Mobile led display for mobile media, shopping mall LED billboard for logo showing, bank & stock exchange LED message signs for rates showing, train & bus stat...
THE Reserve Bank of Zimbabwe (RBZ) governor John Mushayavhanu has announced plans to crack down on supermarkets found using exchange rates which are higher than the official rate. Mushayavanhu has threatened to revoke shop licences of exchange rate violators after some supermarkets have reportedly ...