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RBZ blacklists 11 firms over black market deals, overpricing

SIX contractors that were doing business with Government have been blacklisted by the Reserve Bank of Zimbabwe (RBZ)'s Financial Intelligence Unit (FIU) for trading on the foreign currency black market, while bank accounts of five leading …

Published: 29 Jan 2023 at 07:42hrs | 25 | by Staff Reporter

Zimbabwe dollar strengthens in parallel market

For Zimbabwe President Emmerson Mnangagwa, the re-introduction of the country's currency after a decade of US dollar dominance marks a return to normalcy.To many others, however, it heralded uncertainty; explaining the resistance to the su…

Published: 06 Jul 2019 at 10:32hrs | 3 | by The East African

Interbank rate overtakes black market

THE interbank exchange rate has surpassed parallel market rates with some banks offering more in local currency for those exchanging their foreign currency. Government last week outlawed the use of multiple currencies through new regulatio…

Published: 03 Jul 2019 at 08:25hrs | | by Staff reporter

Zimbabwe's perpetual struggle with forex black market

AS Zimbabwe continues battling a boisterous foreign currency black market, there are strong signs that a parallel goods markets will soon emerge.Notwithstanding the distinguishable history of the destabilising effects of black markets, the…

Published: 31 May 2019 at 08:06hrs | 1 | by P Masamha

'Black market rates to tumble'

RESERVE Bank of Zimbabwe (RBZ) top officials yesterday insisted that the parallel market rates will soon tumble because the current balance of RTGS dollars in circulation cannot sustain the prevailing exchange rates.The local currency has …

Published: 31 May 2019 at 07:41hrs | | by Staff reporter

Inter-bank, parallel market rates won't converge: Analysts

ANALYSTS say claims by monetary and fiscal authorities that the interbank market and the parallel market for foreign currency will converge are highly unlikely in the absence of a sustained supply of foreign currency.Both the Minister of F…

Published: 30 May 2019 at 07:57hrs | 3 | by Staff reporter

Chiwenga warns for corporates feeding the black market

VICE President Dr Constantino Chiwenga yesterday lashed out at corporates that are dipping their hands in underhand parallel market exchange dealings and equated such behaviour to "financial terrorism". Addressing captains of industry and …

Published: 25 Apr 2019 at 06:57hrs | | by Staff reporter

Mangudya kills forex black market?

INDUSTRIALISTS and market watchers have hailed the monetary policy statement presented yesterday by Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya, saying it will kill the foreign currency parallel market and help increase produc…

Published: 20 Feb 2019 at 22:40hrs | 1 | by Staff reporter

PHOTOS: Black market cooking oil dealer in kombi crash

A vendor with cooking oil meant for the black market was involved in an accident in Norton, leaving his wares all-over the scene.

Published: 21 Oct 2018 at 19:23hrs | | by Simbarashe Sithole

Where are we?

We have a problem and a problem that we saw coming. It's not even a question of what went wrong. You see the political party that is called zanu pf is the problem here. Why we can't get this problem out of our hands is because we so polari…

Published: 18 Oct 2018 at 17:26hrs | 1 | by Clement Moyo

Mthuli Ncube fuelled parallel market rates, price increases

UNCERTAINTY hangs over the future of bond notes and real time gross settlement (RTGS) transfers, as more businesses are rejecting the two payment methods and the economy is effectively re-dollarising.This comes against the background of co…

Published: 11 Oct 2018 at 18:20hrs | 5 | by Staff reporter

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