Reserve Bank of Zimbabwe Governor, John Mangudya, is reluctant to act to narrow a widening gap between the Zimbabwe dollar’s official and black market rates, saying that businesses are to blame for the disparity.
By Tapiwa Chagonda The Zimbabwean economy has continued to experience turbulence, despite having managed to weather a devastating spell of hyperinflation which peaked in 2008. One economic area which has remained...
Zimbabwe's inflation rate has slowed down over recent months. The rate fell from 837.5% in July last year to 194.1% in April. Does this mean that prices are coming down? How is inflation measured? How is the...
The Reserve Bank of Zimbabwe’s monetary policy committee (MPC) has held interest rates steady as it issued a rosy outlook for inflation, saying the foreign currency auction had managed to slow down prices. Since the foreign currency auction was launched...
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...
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