March 19, 2019
Home Posts tagged Forex Crisis

Gold miners request RBZ to pay them in Rands

SMALL-scale miners say the Reserve Bank of Zimbabwe (RBZ) should consider paying them using the rand given that the country is facing challenges in sourcing United States dollars after South African banks cut off local financial institutions from importing the greenback. RBZ deputy director for financial markets William Manimanzi recently revealed that the move by […]Continue Reading:

Why forex rate should drop to 60%

By Brett Chulu THE eagerly anticipated Monetary Policy Statement (MPS) for 2019 was finally delivered by the Reserve Bank of Zimbabwe (RBZ) governor John Mangudya on Wednesday this week, the same day the budget statement of South Africa (SA) was being presented. The rand fell during SA finance minister Tito Mboweni’s budget presentation by 2,27% […]Continue Reading:

Reserve Bank of Zimbabwe devalues the bond note

ZIMBABWE’S government dropped its insistence that a quasi-currency known as bond notes trades at par with the dollar as it overhauled foreign-exchange trading and effectively devalued the securities. The measures are a step toward trying to create a new currency and stabilize Zimbabwe’s economy, which has been plunged into crisis as a shortage of foreign […]Continue Reading:

RBZ pours sand on black market forex traders

By GARIKAI DZOMA || WHEN John Mangudya announced that he was going to introduce bond notes in addition to the already circulating bond coins back in 2016 people were not amused. In fact, there were protests and individuals like Evan Mawarire came into infamy and were arrested and charged with all manner of crimes. At […]Continue Reading:

Reserve Bank considering devaluing the bond note

A TOP Reserve Bank of Zimbabwe (RBZ) official has reportedly told Bloomberg that the central bank is considering devaluing the bond note as part of a raft of reforms to the nation’s foreign-exchange system. The Reserve Bank of Zimbabwe may unveil the measures in its Monetary Policy Statement to be announced on Wednesday, said the […]Continue Reading: