Reserve Bank of Zimbabwe governor John Mangudya on Friday issued a mid-term monetary policy statement crammed with optimism, but new measures on forex and mobile money show a bank still battling for control. Mangudya says the new currency auction system...
Zimbabwean businesses accepting payment in foreign currency but paying taxes only in Zimbabwe dollars risk heavy fines, the Zimbabwe Revenue Authority (Zimra) says. Zimra and the Reserve Bank of Zimbabwe on Thursday issued a joint appeal for voluntary compliance with...
While authorities are pointing to “saboteurs” for driving up inflation and weakening the currency, latest Reserve Bank of Zimbabwe data is pointing elsewhere – to RBZ itself. According to central bank’s latest report on money supply, reserve money – the...
The Zimbabwe government’s 2018 directive to separate local and foreign currency bank balances was unconstitutional and a violation of property rights, a High Court judge has ruled. In a ruling that sharply criticised the...
Zimbabweans will once again be able to use US dollars to pay for goods and services, the RBZ announced on Thursday, nine months after the government banned the use of foreign currencies for most local transactions.
Zimbabwe will adopt a “managed float” exchange rate regime, Finance Minister Mthuli Ncube said on Wednesday, abandoning strict control of foreign exchange by the central bank in the latest in a series of currency reforms that have...
The Reserve Bank of Zimbabwe (RBZ) has processed claims for foreign currency-denominated legacy debt worth US$1.2bn, rejecting dodgy requests worth US$861 million, governor John Mangudya revealed on Monday. After ending dollarisation last year,...
The Reserve Bank of Zimbabwe’s monetary policy committee (MPC) has left its main bank rate steady, saying monthly inflation was within “close range” of its year-end targets. However, the MPC says it will...
The RBZ’s monetary policy committee, which sat on Friday, 15 November 2019 resolved to cut the Bank’s policy rate from 70% to 35% with effect from November 20, 2019, according to notes released by the central...
FBC Bank managing director Webster Rusere says the bank still allows forex cash withdrawals for depositors holding ‘free funds’, allaying fears raised by a leaked internal circular which appeared to change rules on the operation of foreign...
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