News / National
RBZ turns on printing press
27 Jun 2019 at 08:12hrs | Views
The Reserve Bank of Zimbabwe is set to turn on the printing press to support the formalisation of the local currency, the Zimbabwe Dollar but will ensure that it manages inflation to reasonable levels of below 20% by year end.
Central bank chief John Mangudya says the bank will soon print ZW$1,5 billion for initial circulation to grow money supply following the new currency reforms as well as manage inflation which has soared to historic levels in 10 years.
Meanwhile, the RBZ's exchange control directive regarding trading of dually-listed firms on the Zimbabwe Stock Exchange (ZSE) is expected to slow down activity on the local bourse, investment analysts have said.
The central bank on Monday said any investor who will purchase a dual listed share on the ZSE shall only be allowed to sell the share on the ZSE or on an external stock exchange after a vesting period of 90 days from the date of initial purchase.
Central bank chief John Mangudya says the bank will soon print ZW$1,5 billion for initial circulation to grow money supply following the new currency reforms as well as manage inflation which has soared to historic levels in 10 years.
Meanwhile, the RBZ's exchange control directive regarding trading of dually-listed firms on the Zimbabwe Stock Exchange (ZSE) is expected to slow down activity on the local bourse, investment analysts have said.
The central bank on Monday said any investor who will purchase a dual listed share on the ZSE shall only be allowed to sell the share on the ZSE or on an external stock exchange after a vesting period of 90 days from the date of initial purchase.
Source - businesstimes
