“Foreign currency retention on domestic sales in foreign currency has been increased to 75%. The foreign currency retention thresholds on exports and domestic FCAs [foreign currency accounts] are key to influencing export earnings and the build-up of foreign currency reserves for the country. The ...
Zimbabwe adopted the dollar in 2009 but, as a chronic hard currency shortage worsened, introduced a parallel system of bond notes that it pegged at 1:1 to the US currency. Effectively reintroducing a national currency, the Reserve Bank of Zimbabwe (RBZ) said on Wednesday it would carry out ...
NZD to ZWD conversionaim to maintain real-time information on current market or bank exchange rates, so that the calculated result changes whenever the value of either of the componentNew Zealand Dollar to Zimbabwean Dollardo. They do so by connecting to a database of current currencyNZD to ...
It has described EcoCash, mobile money platform operated by Econet Wireless, as a Ponzi scheme that is responsible for the rapid weakening of the Zimbabwean currency. The country’s Central Bank has gone to court seeking to sustain a directive to disable lines of EcoCash agents. Mobile money ...
The country’s inflation has since last October been trending upwards on the back of a weakening domestic currency and subdued export earnings. Independent estimates show that annual inflation stood at over 500% in January, a figure that cannot be verified after government stopped releasing the key...
INFLATION is forecast to start falling at faster pace on the back of a stable and firming Zimbabwe dollar, which has benefitted from the introduction of a systematic currency trading platform and measures to tighten controls on mobile money systems. Analysts say while Zimbabwe’s inflation remains...
The country is facing one of its worst economic crises in more than a decade, marked by inflation running above 700%, acute shortages of foreign currency and public hospitals crippled by strikes and a lack of medicine. Food shortages have also been reported. ...
A bull market or a bull run refers to a stock market that is characterised by a sustained rise in share prices with most counters trending upwards. Bull runs normally occur when investors believe the positive trend will continue for the long term. Bull r