“You would have noticed that from January 2024, the central bank has allowed the exchange rate to be determined by market forces. And we have been watching because that is what you (businesses) have asked for in the past, and we say there you have it, the rate is floating,” he said...
The Reserve Bank of Zimbabwe (RBZ) has liberalised the US dollar exchange rate against Real Time Gross Settlement (RTGS) balances, bond notes and all currencies in the multi-currency basket as it seeks to formalise trade in foreign currency. The US dollars in the new market will be retained...
HARARE - The Reserve Bank of Zimbabwe (RBZ) does not determine the level of the Zimbabwe dollar exchange rate, as the price of the domestic unit is established via a price discovery mechanism — the Dutch forex trading auction system, governor Dr John Ma
THE Reserve Bank of Zimbabwe (RBZ) foreign exchange auction has become the major source of foreign currency for big companies, allotting US$35.2 million this week. A trading update released at the close of the FX37/2021 states that a total 292 bids were
THE Reserve Bank of Zimbabwe has maintained the exchange rate of the bond notes at par with the US dollar.In his delayed mid-term Monetary Policy Statement, gov...
Tobacco farmers have engaged the Reserve Bank of Zimbabwe (RBZ) to address concerns over fixed Zimbabwe dollar exchange rate
Accountants Ernst & Young said part of the accounts do not meet standards of reporting in hyperinflation conditions, especially as they relate to the use of the official exchange rate. But Simbisa said the report does not consider the “deficiencies” of the auction, introduced mid-last year. ...
The black market foreign exchange rates, which have been the primary drivers of the galloping inflation in the country since September last year, fell below the official interbank exchange rate only last month after the Government banned the multi-currency regime with effect from June 2. ...
“The government’s efforts to stabilise prices through prudent fiscal policy and rules-based monetary and exchange rate policies have been effective and must be continued to enhance confidence and improve macroeconomic conditions,” said the global financier. Since 2018, the government has been impleme...
The scenario has also pushed up inflation as local shops have continued to benchmark their price using the parallel market exchange rate. “We continue to witness some increases in aggregate demand in the economy and that increase is mainly attributed to the use of local currency, what we have...