The Reserve Bank of Zimbabwe (RBZ) says it has cleared the foreign currency backlog which has been hampering the smooth operations of the auction for the greater part of its existence since 2020. The auction was set up as a price discovery mechanism for the local
First Capital Bank income for the third quarter (Q3) to September was up 82 percent ahead of prior year comparative period thanks to strong performance on interest income which was driven by growth in the foreign currency loan book and the re-pricing of the ZW$
The Reserve Bank of Zimbabwe (RBZ) says about 4500 small denominated gold coins should be available for purchase by the public from local banks starting next week Tuesday as the Bank intensifies mopping up excess liquidity in the market. Authorities introduced the Mosi-oa- tunya gold coins
The Reserve Bank of Zimbabwe (RBZ) has disbursed a cumulative total of US$ 3.6 billion to local businesses through the foreign currency auction since its introduction in June 2020. The auction was set up to stabilize exchange rates and increase local enterprises' access to hard currency
Opposition Citizens Coalition for Change (CCC) Harare East legislator Tendai Biti says the Reserve Bank of Zimbabwe (RBZ) foreign currency auction system continues to be a vehicle of arbitrage and rent-seeking behavior. The auction system was introduced in June 2020 in a bid to bring transparency and
Local businesses have questioned the autonomy of the Reserve Bank of Zimbabwe (RBZ) as confidence in the central bank continues to weaken amid suspected state capture. The recent exchange rate spike, strongly linked to an increase in reserve money in the economy has left monetary authorities
A total of US$ 1.5 billion was traded on the interbank foreign exchange market during its initial 11 month period to 31 December 2019, the Reserve Bank of Zimbabwe has said. The interbank market was introduced late February last year as a mechanism to formalize illicit
Barely six months since the return of the Zimbabwe dollar as the sole unit of transacting in the country, its fate has taken a rather quick and dramatic twist as market players are switching back to transacting in United States dollars (USD). In June this year,
Foreign currency earners are shunning the inter-bank foreign exchange market owing to an opaque functioning system of its trading activities with indications that authorities are tempering with the bidding and price identification of the exchange rate, 263ChatBusiness has learnt. This is contrary to Central Bank assurances
In a strongly worded letter to the Minister, the pressure group said is will embark “an array of constitutionally guaranteed measures to expose government politically”
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