Falling auction rate makes bidding tricky
THE fall in the auction rate by 6.17 percent since the end of September, with more than half that decline seen last week, presents a new set of circumstances to … Read More
Category: Foreign Exchange
‘Zim has enough forex to sustain economy’
THE foreign currency auction introduced by Government last year has been critical in revitalising the economy despite deliberate inflation of black market exchange rates by unscrupulous businesses and dealers, Reserve … Read More
Forex auction revitalises economy: RBZ
THE foreign currency auction introduced by Government last year has been critical in revitalising the economy despite deliberate inflation of black market exchange rates by some unscrupulous businesses and dealers, … Read More
CZI calls for forex auction reduction
THE Confederation of Zimbabwe Industries (CZI) has proposed that the total amount of weekly foreign currency allocation be temporarily reduced to US$25 million over the next three weeks to allow … Read More
Govt to adequately fund forex auction system
The Second Republic will leave no stone unturned in its endeavour to turnaround the economy and will ensure that the foreign currency auction system is adequately funded and that the … Read More
Forex blackmarket: More arrests loom
More people illegally dealing in foreign currency will soon be arrested and more financial institutions charged as Government cracks the whip against those driving and manipulating the black market despite … Read More
Zimbabwe dollar breaks the ZWL88 psychological benchmark on Auction Market as parallel market races ahead
Harare- The Zimbabwe Dollar continued on a losing streak shedding 1% versus the greenback on the auction market to break through the ZWL88 psychological benchmark. This is regardless of the … Read More
RBZ moves to clear forex auction backlog
Efforts to clear the backlog of foreign currency auction allotments are underway, with Reserve Bank of Zimbabwe Governor Dr John Mangudya saying all auction allotments would be paid within two … Read More
‘Huge parallel market premium threatening exports’
THE Confederation of Zimbabwe Industries (CZI) says the distortionate impact of the parallel market exchange rate in the economy is becoming a big threat to exporting businesses as it eats … Read More
Treasury moves to close gap between official and black market rates
Finance Minister Mthuli Ncube is now looking at using part of that influx of foreign currency official reserves thatarose from the recent grant of the International Monetary Fund (IMF) to … Read More
