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...
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.
The amount of foreign currency held by the banking sector jumped 38% between September and November 2018, reaching near two-year highs following a central bank directive to separate forex accounts from bond note and electronic deposits, official...
As the Zimbabwe dollar weakens further, there have been calls for Zimbabwe to ditch the local currency and adopt the US dollar as the main currency, once again. Reserve Bank of Zimbabwe governor John Mangudya...
China’s UnionPay International on Wednesday added Steward Bank to its network of partners, expanding its footprint in Zimbabwe, where it has already signed up two other financial institutions. The use of international cards in...
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...
Following the end of dollarisation last month and the inevitable confusion that ensued, the Reserve Bank of Zimbabwe (RBZ) has today, July 24, issued its second exchange control circular to clarify certain aspects of the new regime,...
ZIMBABWE’S economy is, once again, in turmoil. Unrestrained government expenditure has rekindled inflationary flames, the country’s huge import bill continues to exert pressure on limited foreign currency earnings and the dollarisation project has long unravelled. A raft of government subsidies...
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.
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...
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