Forex auction trading system benefits productive sector
CLOSE to US$3 billion has been allotted to the productive sector since the beginning of the weekly Foreign Currency Auction Trading System in June 2020. The Reserve Bank of Zimbabwe … Read More
Category: Foreign Exchange
CZI calls for market determined exchange rate
THE Confederation of Zimbabwe Industries (CZI) has called on the Government to explore modalities of a market-determined exchange rate to promote enabling environment for business to operate in. So far, … Read More
RBZ clears US$200m auction forex backlog
The Reserve Bank of Zimbabwe (RBZ) says it has cleared the nearly US$200 million ringfenced foreign currency backlog on the auction system. Governor, Dr John Mangudya said in an interview … Read More
Exchange rate moves to 1:124 at auction platform
THE official exchange rate moved to US$1:$124 this week in favour of the greenback, which is continuing to firm when compared to last week’s local currency value of $120,5. In … Read More
Firms want forex, rate issues resolved
SOME Zimbabwe Stock Exchange (ZSE)-listed firms have expressed reservations over persisting foreign currency shortages and exchange rate distortions. The companies, in different trading updates, said despite the difficult and challenging … Read More
Pension benefits to track auction rate
THE Government has approved a recommendation from the National Social Security Authority (NSSA) Board to implement a self-adjusting mechanism for benefits payouts that will be pegged against the Reserve Bank … Read More
Resurgent exports push forex earnings to record US$9,7bn
ZIMBABWE has registered a record high foreign currency receipts amounting to US$9,7 billion for the year 2021 with the bulk of the earnings coming from the resurgent export sector which … Read More
CZI urges RBZ to fine tune auction
The Confederation of Zimbabwe Industries (CZI) says the Reserve Bank of Zimbabwe (RBZ) should only sell foreign currency that it has already received to avoid creating backlogs from auctioning unrealised … Read More
Zim-dollar weakens against US$ at forex auction
THE Zimbabwean dollar further weakened against the United States dollar at the weekly forex auction system on Tuesday where it traded at Z$116,7 to the green back. The forex auction … Read More
RBZ Auction Rejects 424 Suspicious Bids
LATEST statistics released by the Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction shows that a total 424 suspicious bids were rejected as the authority has moved a step up … Read More
