Day: April 6, 2024
RBZ adopts market-based exchange rate
THE Reserve Bank of Zimbabwe (RBZ) has adopted a market-determined system for setting exchange rates, with the auction system being replaced by a refined interbank foreign exchange market which connects and allows trading between willing-buyers and willing sellers. The central bank itself will help feed the market with the 25 percent surrender export earnings. There […]
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RBZ unveils new currency
RESERVE Bank of Zimbabwe (RBZ) Governor, Dr John Mushayavanhu, yesterday unveiled the country’s new medium of exchange, the Zimbabwe Gold (ZiG), as part of several policy measures to address exchange rate volatility, curtail inflation and restore macro-economic stability. Presenting his inaugural Monetary Policy Statement (MPS) in Harare, the new central bank chief said the apex […]
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