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'Interbank market won't be manipulated'
Mechanisms have been put in place to ensure that the foreign currency interbank market will not be manipulated, Finance and Economic Development Minister Professor Mthuli Ncube has said. This ...Published: 19 Mar 2019 at 06:25hrs | 325 | by Staff reporter
We cannot blame Nelson Chamisa without blaming all of us
We are under sanctions from the United States, the European Union and other Western outposts like Australia, New Zealand and Canada, and the ruin of the sanctions is without doubt. Our industr...Published: 18 Mar 2019 at 06:40hrs | 2326 | by Reason Wafawarova
Mthuli Ncube wages war against surging inflation
Zimbabwe's annual inflation has risen to a 10-year high since hyperinflation, but month-on-month prices are beginning to drop as monetary reforms aimed at combating inflation, addressing foreign curre...Published: 17 Mar 2019 at 18:08hrs | 995 | by Staff reporter
RBZ, CZI push for interest on forex accounts
The Reserve Bank of Zimbabwe (RBZ) and industry are currently engaging banks to offer interest on foreign currency deposits in order to attract more inflows, particularly those with a long-term tenure...Published: 17 Mar 2019 at 08:33hrs | 184 | by Staff reporter
Mangudya forecasts RTGS$ equilibrium with US dollar
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya forecasts an exchange rate equilibrium between the Real-Time Gross Settlement (RTGS) dollar and the United States dollar on the inter-bank trading...Published: 15 Mar 2019 at 17:17hrs | 6626 | by Staff reporter
Embargoes throttle Zimbabwe's financial system
Earlier this month, United States President Donald Trump extended the economic sanctions against Zimbabwe by a year, claiming that new Government's policies continue to pose an "unusual and extraordin...Published: 15 Mar 2019 at 05:50hrs | 326 | by Tawanda Musarurwa
Mthuli Ncube to defend RTGS dollar
THE local surrogate currency formally known as Bond Note and recently christened the RTGS dollar is legal tender whether citizens like it or not, Finance Minister Mthuli Ncube said Thursday.Nc...Published: 15 Mar 2019 at 05:49hrs | 720 | by newzimbabwe
Treasury still to direct banks on inter-bank trade: MDC-T MP
MDC-T legislator Priscilla Misihairabwi-Mushonga has alleged that Finance minister Mthuli Ncube has not instructed banks to implement the United States dollar to RTGS dollar 1:2,5 inter trade rate ann...Published: 14 Mar 2019 at 07:45hrs | 358 | by Staff reporter
Chronic investor mistrust dogs Zimbabwe
Zimbabwe continues to suffer from investor mistrust and capital flight, as analysts cite lingering curremcy risks, policy inconsistences, high inflation and socio-economic instability among the factor...Published: 14 Mar 2019 at 07:42hrs | 327 | by Staff reporter
Zimbabwe trade registers $44,2m deficit
ZIMBABWE'S trade opened the year in the negative, registering a $44,2 million deficit in January, latest data from the statistics agency has shown.Figures released by the Zimbabwe Statistics A...Published: 14 Mar 2019 at 05:28hrs | 792 | by Staff Reporter
RTGS slides against the dollar
For investors who doubted Zimbabwe would let market forces determine the price of its new currency, there's evidence it's doing just that. The southern African nation's central bank has allowe...Published: 13 Mar 2019 at 22:47hrs | 7351 | by Staff reporter
Has Zimbabwe become an Oliver Twist?
A couple of days ago, central bank governor John Mangudya aptly described Zimbabwe in Parliament as "a step child in a family of nations."What an apt description! This is exactly what Zimbabwe...Published: 13 Mar 2019 at 12:24hrs | 654 | by Editorial - Daily News
Mnangagwa sued over RTGS currency
Harare businessman and University of Zimbabwe (UZ) lecturer, Shakespear Hamauswa, has petitioned the High Court seeking a court order to declare unconstitutional the Presidential (Temporary Measures) ...Published: 13 Mar 2019 at 07:13hrs | 4107 | by Staff reporter
Bulawayo companies struggling to access RBZ's forex interbank market
BUSINESSES in Bulawayo say they are struggling to access foreign currency from the interbank market due to its unavailability, contrary to the central bank's statement that the firms could not afford ...Published: 13 Mar 2019 at 07:03hrs | 755 | by Staff reporter
Tendai Biti's mischief exposed
The recent summoning of the Reserve Bank Governor, Dr John Mangudya, to appear before the Parliamentary Public Account Portfolio Committee (PAC) has exposed Tendai Biti, the Committee Chairman of usin...Published: 12 Mar 2019 at 22:29hrs | 7362 | by Staff reporter
Trevor Ncube apologises to Zimbabweans
Alpha Media Holdings Boss Trevor Ncube has apologised to Zimbabweans over a story that appeared on Newsday saying RTGS$ to devalue further.Newsday quoted Reserve Bank of Zimbabwe (RBZ) governo...Published: 12 Mar 2019 at 17:00hrs | 9830 | by Mandla Ndlovu
Mangudya taunts Mthuli Ncube
Reserve Bank of Zimbabwe (RBZ) governor John Mangudya yesterday denied that the central bank was involved in any quasi-fiscal activities and called out Finance minister Mthuli Ncube and parliamentary ...Published: 12 Mar 2019 at 10:05hrs | 3437 | by Staff reporter
Govt assures pensioners
Government has assured pensioners that they will not lose their savings following the floating of the exchange rate and the introduction of the new RTGS dollars as legal tender. Presenting the...Published: 12 Mar 2019 at 06:17hrs | 2520 | by Staff reporter
Tobacco season to begin next week
ZIMBABWE'S 2019 tobacco marketing season will start on March 20, the industry's regulator has said.Tobacco is the country's second biggest export earning commodity after gold.Last year...Published: 12 Mar 2019 at 06:04hrs | 428 | by Staff reporter
RTGS dollar to devalue before tobacco auction - Mangudya
Reserve Bank governor John Mangudya on Monday said the exchange rate for the new transitional currency is unlikely to remain at 2.5 per U.S. dollar by the time tobacco auctions open next week, suggest...Published: 12 Mar 2019 at 05:54hrs | 2394 | by Reuters
'Black market can't determine forex rates'
Government cannot allow itself to be influenced by the black market in determining foreign exchange rates on interbank transactions as the parallel market is run by a few individuals transacting on no...Published: 12 Mar 2019 at 05:44hrs | 410 | by Staff rpeorter
'Inter-bank trades US$12m weekly'
The inter-bank foreign exchange market is averaging trades of US$12 million weekly, three weeks after its introduction, Reserve Bank of Zimbabwe (RBZ) governor Dr John Mangudya told Parliamentarians y...Published: 12 Mar 2019 at 05:43hrs | 174 | by Staff reporter
Gono's jatropha project too small to ease fuel crisis, says Mangudya
FORMER RBZ Governor Gideon Gono's $3 million jatropha project's contribution to the country's fuel demands was too insignificant and cannot be considered as a viable solution to current fuel shortages...Published: 12 Mar 2019 at 05:42hrs | 401 | by newzimbabwe
'Ethanol blending saves Zimbabwe millions'
RESERVE Bank of Zimbabwe governor John Mangudya on Thursday told Parliament that blending of ethanol with fuel has been saving the country millions of dollars.Mangudya had appeared before the ...Published: 11 Mar 2019 at 07:10hrs | 638 | by Staff reporter
'Expanding economy driving fuel demand'
The huge demand for fuel, which has caused supply challenges and spawned fuel queues across the country, is testimony that economic activity has expanded significantly over the past year or so, Reserv...Published: 11 Mar 2019 at 06:54hrs | 176 | by Staff reporter
Mangudya's RBZ tenure coming to an end
AS the curtain comes down on Reserve Bank of Zimbabwe (RBZ) governor John Mangudya's five-year term of office, speculation has been rife on whether he will be handed another contract or not.Ma...Published: 10 Mar 2019 at 09:05hrs | 2452 | by Staff reporter
IMF hails Zimbabwe monetary policy
THE International Monetary Fund has hailed Zimbabwe's recently announced monetary policy which liberalised the exchange rate between the US dollar and the RTGS dollar, adding this was a step in the ri...Published: 10 Mar 2019 at 08:53hrs | 707 | by Staff reporter
Biti, this world will humble you!
Even after having gone through the intellectual rigours of philosophy and theology at seminary, Bishop Lazi still doesn't fancy the nature versus nurture debate.But there is a particularly ine...Published: 10 Mar 2019 at 08:48hrs | 2847 | by Bishop Lazi
Insurance companies, Peoples Savings, Fixed income earners at Risk due to unstable economy.
Zimbabwe financial system is still in a disarray despite the measures unpacked in the monetary policy statement of the first half of year 2019 with Dr Mangudya on 19 February. The economy is continuou...Published: 10 Mar 2019 at 07:04hrs | 385 | by Elvis Dzvene
Zimbabwe banks get $7m weekly for trading on the forex interbank market
Government is selling an average of $7 million to banks for trading on the newly-launched forex interbank market, with Finance and Economic development minister Mthuli Ncube saying government will sta...Published: 09 Mar 2019 at 12:29hrs | 2421 | by Staff reporter
Mangudya grilled over RTGS$, US rate disparity
RESERVE Bank of Zimbabwe Governor John Mangudya was on Thursday grilled in Parliament over disparities between the official United States dollar rates of 1:2,5 and the parallel market rate of 1:3,6 re...Published: 09 Mar 2019 at 12:27hrs | 3227 | by Staff reporter
Mthuli Ncube makes frantic efforts to charm US
Finance minister Mthuli Ncube is this week making frantic efforts to warm up relations with multilateral creditors as Zimbabwe continues its search for US$1,2 billion to clear World Bank arrears despi...Published: 08 Mar 2019 at 14:15hrs | 2053 | by Staff reporter
Fuel shortages to ease by month-end: Mangudya
RESERVE Bank of Zimbabwe governor John Mangudya yesterday said the current fuel shortages will ease by end of the month, attributing the problem to delays in the processing of lines of credit (LCs) an...Published: 08 Mar 2019 at 07:01hrs | 1026 | by Staff reporter
Zimbabwe consumer prices post first drop in months
Some local consumer prices marginally fell this week for the first time in months as declining costs for foreign exchange offset rising prices after the central bank ditched the fanciful greenback bon...Published: 07 Mar 2019 at 13:26hrs | 2529 | by Staff reporter
Chamisa's strategy is reaping diminishing returns
MDC Alliance leader Nelson Chamisa is reported to have said that he will "doorstep" South Africa's President Cyril Ramaphosa when the latter comes to Zimbabwe in a fortnight.To doorstep someon...Published: 07 Mar 2019 at 07:40hrs | 2668 | by Tichaona Zindoga
Chaos as Mnangagwa is sucked into ZANU PF Byo fiasco
The Provincial Administrator of ZANU PF Bulawayo Province Elifas Mashaba has been caught in the eye of a storm after President Emmerson Mnangagwa on Wednesday dissolved Bulawayo Province ZANU PF struc...Published: 06 Mar 2019 at 17:39hrs | 4793 | by Mandla Ndlovu
Zimbabwe is not the worst country on earth!
At the beginning of this new weekly column, more of which is going to come in the next months and years Inshallah, let me make this humble appeal to the authorities on behalf of the suffering resident...Published: 06 Mar 2019 at 06:26hrs | 3373 | by Baffour Ankomah
'New currency to steer self-correction of ZSE stock prices'
Market analysts expect a self-correction of the price of stocks listed on the Zimbabwe Stock Exchange (ZSE) following the establishment of the real time gross settlement dollar (ZWR) and floating of t...Published: 06 Mar 2019 at 05:49hrs | 909 | by Staff reporter
Name, shame loan defaulters, Biti demands
PARLIAMENT has demanded that Reserve Bank of Zimbabwe (RBZ) governor John Mangudya make public the schedule of beneficiaries whose loans were taken up by the Zimbabwe Asset Management Company (Zamco) ...Published: 05 Mar 2019 at 10:26hrs | 1926 | by Staff reporter
Mthuli Ncube considers fuel tax cut
The government is considering lowering taxes on fuel to ease the burden on consumers following the liberalisation of the foreign exchange market last week. This is coming as the government is also pla...Published: 05 Mar 2019 at 07:54hrs | 7340 | by Staff reporter
RTGS Dollar ≠ Crypto-currency
On Friday 22 February 2019, our analyst; Batanai Matsika had an interesting interview with South Africa's Business Day TV (DSTV Channel 412). The conversation focused on the recently announced...Published: 05 Mar 2019 at 07:53hrs | 2574 | by Batanai Matsika
Mangudya turn tables on Biti
Reserve Bank of Zimbabwe Governor, Dr John Mangudya, yesterday exposed former Finance Minister Tendai Biti's hypocrisy after the former Cabinet minister accused Treasury of failing to seek Parliamenta...Published: 05 Mar 2019 at 07:13hrs | 1214 | by Staff reporter
Panonetsa Mangudya humbles Biti
Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya yesterday exposed former Finance Minister Tendai Biti's hypocrisy after the former Cabinet minister accused Treasury of failing to seek Parliam...Published: 05 Mar 2019 at 07:10hrs | 841 | by Staff reporter
Bond notes a success, claims Mangudya
RESERVE Bank of Zimbabwe (RBZ) Governor Dr John Mangudya insists bond notes did not fail as an export incentive, but were a major success as evidenced by the rise in foreign currency receipts since th...Published: 05 Mar 2019 at 07:08hrs | 180 | by Staff reporter
RTGS Dollar legal instrument now in force
The government has released Statutory Instrument 133 of 2019 to include the recently introduced RTGS electronic money or dollars into the multi currency basket.The move follows Reserve Bank of...Published: 04 Mar 2019 at 19:42hrs | 6021 | by Staff reporter
Foreign investors can finally take money out of Zimbabwe
Foreign investors on the Zimbabwe Stock Exchange are likely to take a huge foreign exchange loss on their investments, but at least they can now have their money back following a new directive by the ...Published: 04 Mar 2019 at 19:33hrs | 5324 | by Staff reporter
Mangudya to appear before Parly committee
The Reserve Bank Governor of Zimbabwe, Dr John Panonetsa Mangudya, is set to appear before the Parliament's Public Accounts Committee to explain several monetary issues as the august House resumes sit...Published: 04 Mar 2019 at 07:07hrs | 679 | by Staff reporter
Why Zimbabwe is fed up with using the U.S. dollar
A decade after Zimbabwe scrapped its own currency to tackle hyperinflation and began using instead mainly the U.S. dollar, the economy is back in free fall. Fuel and banknotes are hard to come by, les...Published: 03 Mar 2019 at 18:52hrs | 11882 | by Mike Cohen
Gold miners want payments in rand
SMALL-scale miners say the Reserve Bank of Zimbabwe (RBZ) should consider paying them using the rand given that the country is facing challenges in sourcing United States dollars after South African b...Published: 03 Mar 2019 at 10:51hrs | 290 | by Staff reporter
Mthuli Ncube tightens belt on spending
Government will operate below statutory requirements in borrowing from the Reserve Bank of Zimbabwe (RBZ) as it enhances its belt-tightening strategies in line with austerity measures announced in the...Published: 03 Mar 2019 at 01:28hrs | 1541 | by Staff reporter
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