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'Shut down RBZ's irrelevant forex auction system'
ECONOMIC analysts this week said the central bank must close the foreign exchange auction system, saying it was no longer serving its purpose.The Reserve Bank of Zimbabwe (RBZ) last month limi...Published: 09 Jun 2023 at 06:33hrs | 5 | by Staff reporter
Mnangagwa's administration panicking
FORMER Finance minister and opposition legislator, Tendai Biti, says government's latest interventions to save the free-falling local currency expose panic in President Emmerson Mnangagwa's administra...Published: 13 May 2023 at 18:27hrs | 1 | by Staff reporter
Inflationary pressures choke Zimbabwe industry
A rising bout of inflation is posing a severe threat to Zimbabwe's industries amid growing fears most companies will struggle to restock, which could potentially trigger a significant reduction in pro...Published: 02 Jun 2022 at 09:06hrs | | by Staff reporter
Zimbabweans told to brace for more price hikes
CONSUMERS should brace for more basic commodity price hikes as inflation continues to rise and the foreign currency exchange auction system falters, economists warned yesterday.Last week, fore...Published: 25 May 2022 at 06:36hrs | 2 | by Staff reporter
'RBZ's currency auction a headache'
THE Confederation of Zimbabwe Industries (CZI) yesterday told Parliament that the country's foreign currency auction system was problematic, resulting in a huge backlog.Giving oral evidence be...Published: 17 May 2022 at 06:38hrs | | by Staff reporter
John Mangudya and CZI kiss and make up
In its position paper on the sensitive issue leaked to the media on Friday, CZI called on the Reserve Bank of Zimbabwe (RBZ) to suspend the foreign currency auction system after the Zimdollar fell to ...Published: 27 Apr 2022 at 11:39hrs | 28 | by Mandla Ndlovu
Mthuli Ncube cornered over 'broken' forex system
FINANCE minister Mthuli Ncube was this week quizzed over why the government was insisting on a broken forex auction system that is costing the country over US$2 billion a year amid fears the move coul...Published: 15 Apr 2022 at 19:21hrs | | by Staff reporter
'Auction system creating fresh public debt'
ZIMBABWE'S foreign currency system could be creating fresh debts for Zimbabweans who could be forced to settle them in the future, former Finance minister Tendai Biti warned yesterday.Biti, wh...Published: 30 Mar 2022 at 07:24hrs | | by Staff reporter
Monetary Policy Analysis
The Reserve Bank of Zimbabwe (RBZ) presented its first monetary policy statement for 2022 on the 7th of February. The monetary policy comes after a 53.5% surge in foreign currency receipts from US$6.3...Published: 23 Feb 2022 at 19:41hrs | 13 | by Victor Bhoroma
Dutch Auction Market vs Local Allocation System
The Reserve Bank of Zimbabwe (RBZ) launched the Dutch auction system on the 23rd of June 2020 to improve transparency in the distribution of foreign currency locally. Initially the auction exchange pl...Published: 23 Feb 2022 at 19:38hrs | 4 | by Victor Bhoroma
Forex auction market a perfect looting front for the connected
BUSINESSES finally had enough and told the Reserve Bank governor John Mangudya that the Zimbabwe dollar was done as a sustainable currency. They do not want it.Last Wednesday, at a review of t...Published: 14 Feb 2022 at 05:29hrs | 2 | by Staff reporter
Dutch Auction Market vs Local Allocation System
The Reserve Bank of Zimbabwe (RBZ) launched the Dutch auction system on the 23rd of June 2020 to improve transparency in the distribution of foreign currency locally. Initially the auction exchange pl...Published: 04 Feb 2022 at 15:08hrs | 3 | by Victor Bhoroma
Key expectations from upcoming monetary policy
The Reserve Bank of Zimbabwe (RBZ) is expected to present the first monetary policy statement of 2022 within the next 30 days amid rising inflationary pressures. The monetary policy comes after the de...Published: 19 Jan 2022 at 11:52hrs | 1 | by Victor Bhoroma
Pegged exchange rate unsustainable
Zimbabwe's export receipts for the first 9 months of 2021 jumped 38% to US$6.10 billion from US$4.43 billion realized in the same period in 2020. Notable improvements have been realized in internation...Published: 24 Nov 2021 at 10:37hrs | 13 | by Victor Bhoroma
RBZ starts clearing auction forex backlog
The Reserve Bank of Zimbabwe (RBZ) yesterday says it has started the process to clear nearly US$200 million of the foreign currency backlog on the auction market after receiving the requisite funds fr...Published: 17 Nov 2021 at 05:07hrs | 6 | by Staff reporter
RBZ warns rogue elements operating in black market
RESERVE Bank of Zimbabwe (RBZ) has warned rogue elements involved in illegal foreign exchange trading on the parallel market to desist from the destablising habit of disseminating messages that fuel l...Published: 04 Nov 2021 at 06:13hrs | 1 | by Staff reporter
Has the Zimbabwe dollar really stabilised against the US unit?
There is a strong debate among economic analysts pertaining to whether the Zimbabwean dollar (ZW$) has stabilised against the American dollar (US$) or not. There is a section which believes that the l...Published: 18 Jun 2021 at 13:00hrs | 3 | by Respect Gwenzi
DRC ambassador in RBZ forex allocation scandal
IN a development that could set tongues wagging, the Reserve of Zimbabwe (RBZ) has named Democratic Republic of Congo (DRC) ambassador to Zimbabwe Mawampanga Mwana Nanga (pictured) as one of the top b...Published: 06 Jun 2021 at 18:32hrs | 1 | by Staff reporter
'Zimbabwe hurtling towards stagflation'
LAST week the CEO Africa Roundtable (CEOART) gathered some of Zimbabwe's best economists and industrialists to digest economic developments during the first quarter of 2021. What came out of the summi...Published: 04 Apr 2021 at 09:44hrs | 4 | by Staff reporter
Biti says RBZ forex auction system headed for collapse
FORMER Finance Minister and legislator Tendai Biti has dismissed the Reserve Bank of Zimbabwe (RBZ) foreign currency auction system as a charade that is set implode once all economic fundamentals begi...Published: 26 Nov 2020 at 07:06hrs | 3 | by Staff reporter
Mthuli Ncube rules out de-dollarisation
Finance Minister Mthuli Ncube says that Zimbabwe is beginning to engage multilateral creditors, with a view of clearing its US$1.8 billion arrears, which will see the country unlock fresh funding to a...Published: 06 Oct 2020 at 07:25hrs | 13 | by Staff reporter
After TSP, diaspora engagement critical, says Mthuli Ncube
AS government winds up the Transitional Stabilisation Programme (TSP) amid a plethora of challenges it faces in turning around the economy, the Zimbabwe Independent (ZI) caught up with Finance ministe...Published: 02 Oct 2020 at 07:43hrs | 11 | by Staff reporter
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