Reserve Bank of Zimbabwe

“Parallel Market Forex Rate Could Hit 400 By December”

Source: “Parallel Market Forex Rate Could Hit 400 By December” – Pindula News Former Finance Minister Tendai Biti says the foreign currency parallel market will spiral out of control as the year draws to an end. Biti told The NewsHawks during an interview that the rate could hit 400 by December and the only way to avert an economic […]
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‘Criminal syndicates in charge of forex auction system’ 

Source: ‘Criminal syndicates in charge of forex auction system’ – #Asakhe – CITE Citizens are failing to access foreign currency at the prevailing auction rate, with some noting that the biggest challenge was criminal syndicates had taken over the Zimbabwean economy as they determined the exchange rate. Last month, the Reserve Bank of Zimbabwe (RBZ) paved […]
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RBZ vows to clear US$175m allotment backlog by monthend

Source: RBZ vows to clear US$175m allotment backlog by monthend – NewsDay Zimbabwe BY KUDZAI KUWAZA THE Reserve Bank of Zimbabwe (RBZ) says it will clear the US$175 million foreign exchange allotment backlog within a month. The delay in allocating the foreign currency on the auction market which began in June last year has led […]
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Zimbabwe in Crisis – What Happens in the Country?

On Zimbabwe’s underground market, the Zimbabwean dollar is collapsing against the United States dollar as confidence in the local currency plummets. As a last option, traders in Zimbabwe are fixing outdated US dollar notes for desperate clients. The South African nation will not be receiving any additional US dollar money in the near future. Consequently, […]
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Govt probes fuel companies 

Source: Govt probes fuel companies – DailyNews BLESSINGS MASHAYA Senior Staff Writer   THE government has ordered a probe into oil companies accused of abusing a Reserve Bank of Zimbabwe (RBZ) foreign currency facility that allows them to secure fuel — but which they are now allegedly selling in foreign currency instead of the local […]
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RBZ yet to announce tobacco payment modalities

Source: RBZ yet to announce tobacco payment modalities | eBusiness Weekly Business Writer The Tobacco Industry and Marketing Board (TIMB) says payment modalities for the 2021 tobacco marketing season will only be established after the announcement of this year’s monetary policy statement. Previous payment modalities have been attributed among other factors responsible for tobacco production […]
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RBZ under pressure to get things right

Source: RBZ under pressure to get things right – The Zimbabwe Independent TATIRA ZWINOIRA FITCH solutions, a United States-based research firm said this week the Reserve Bank of Zimbabwe (RBZ)’s efforts to stabilise the markets will remain constrained by foreign currency shortages. Tipping Zimbabwe’s gross domestic product (GDP) to rise by 1,3% this year following […]
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Implication of the latest MPC deliberations

Source: Implication of the latest MPC deliberations | Theindependent (Zimbabwe) Respect Gwenzi:ANALYST Last week the Monetary Policy Committee made some key policy pronouncements regarding the retention of foreign currency by exporters as well as the compulsory liquidation of unutilised foreign currency balances. The Monetary Policy Committee (MPC) is a committee appointed by the Minister of […]
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RBZ backs down on exporters’ free funds 

Source: RBZ backs down on exporters’ free funds – NewsDay Zimbabwe BY TAURAI MANGUDHLA THE central bank has made a raft of major reforms to stabilise the foreign exchange market, including immediately scrapping the much-loathed compulsory requirement to liquidate unutilised export proceeds within 60 days. This came after industry raised concerns over the compulsory liquidation […]
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Zimbabwe is hemorrhaging gold. Can a key reform curb smuggling?

Source: Zimbabwe is hemorrhaging gold. Can a key reform curb smuggling? | Business and Economy News | Al Jazeera Zimbabwe is losing an estimated $100m a month to gold smuggling – an illicit trade that is heightening violence in the country. But efforts to reform the sector are underway. Harare, Zimbabwe – When Henrietta Rushwaya was […]
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