Search / Zimdollar
Zimbabwe's new $50 can't buy bread
LAST week, the Zimbabwean central bank introduced a $50 note, the country's highest denomination since a return to Zimbabwean dollars as the main currency in 2019.It joins other denominations ...Published: 13 Jul 2021 at 09:15hrs | 2163 | by Staff reporter
Illicit financial flaws daunt RBZ
THE central bank is facing a gigantic task in curbing illicit financial flows with exporters having devised complex ways of evading high retention thresholds as swap deals top the list of their illega...Published: 09 Jul 2021 at 12:09hrs | 339 | by Staff reporter
'No salary increase for civil servants'
GOVERNMENT says it will not relent to civil servants' demands for salary increases, as this would cripple productive sectors of the economy and derail the ongoing International Monetary Fund (IMF) sta...Published: 25 Jun 2021 at 07:44hrs | 2770 | by Staff reporter
RBZ goes for broke: names, shames forex abusers
THE Reserve Bank of Zimbabwe (RBZ) yesterday escalated plans to punish "outliers" including listed milling giant, National Foods, which it said were "abusing" foreign currency acquired through the auc...Published: 16 Jun 2021 at 08:29hrs | 2352 | by Staff reporter
Zimdollar trades unchanged
The Zimbabwe dollar will this week trade largely unchanged against the US dollar at $84,76 from $83,72 last week following yesterday's Reserve Bank of Zimbabwe (RBZ) foreign currency auction, as use o...Published: 02 Jun 2021 at 07:04hrs | 747 | by Staff reporter
'New forex rules a time bomb'
NEW foreign currency measures imposed by government last week are a time bomb that could lead to price increases, lower economic activity and herald a return to the hyperinflation era of yesteryear....Published: 31 May 2021 at 06:45hrs | 4542 | by Staff reporter
Mnangagwa forex rules trigger chaos
President Emmerson Mnangagwa's move to introduce a host of changes that effectively banned the use of foreign currency in local transactions has left business in panic mode amid fears of steep price i...Published: 30 May 2021 at 09:14hrs | 5512 | by Staff reporter
Mnangagwa tightens screws on forex speculation
GOVERNMENT yesterday gazetted new regulations that criminalise the conduct of charging above the official exchange rate and refusing to take the Zimdollar in local transactions.Companies that ...Published: 28 May 2021 at 07:53hrs | 3975 | by Staff reporter
Mnangagwa's govt admits policy failures
GOVERNMENT has conceded that it was found wanting in the implementation of previous economic blueprints and now pins its hopes on its ambitious National Development Strategy 1 (NDS1) to cure the curre...Published: 27 May 2021 at 07:24hrs | 2678 | by Staff reporter
Bulawayo industries on the mend, claims Parly
BULAWAYO industry is said to be on a recovery path after major biscuit and sweet manufacturer, Arenel recently got a US$3 million capital injection for new projects.The observation was made by...Published: 24 May 2021 at 06:49hrs | 1169 | by Staff reporter
40% fuel should be sold in Zimdollars
ENERGY Minister Soda Zhemu has said 40% of fuel should be sold in local currency.His remarks, reported by the state broadcaster Zimbabwe Broadcasting Corporation on Wednesday, came in the wake...Published: 20 May 2021 at 21:21hrs | 711 | by Staff reporter
Zimdollar maintains firm grip against US dollar
THE Zimbabwe dollar has maintained resilience against the United States dollar trading at 84,64 at this week's foreign currency auction system.The introduction of the foreign currency auction ...Published: 20 May 2021 at 06:00hrs | 767 | by Staff reporter
Zimbabwean brands need to step up to the plate
Production seems to be the driving spirit of the new dispensation, as the country pursues a modernisation and industrialisation agenda whose objective is to grow the economy, create rewarding and sust...Published: 09 May 2021 at 08:00hrs | 172 | by Staff reporter
Ex-AirZim workers reject Zimdollar payouts
Former Air Zimbabwe workers have vowed to fight against the payment of their salary arrears in local currency at a rate of US$1: ZW$1, arguing that the move is unconstitutional.The 300 ex-work...Published: 02 May 2021 at 09:30hrs | 822 | by Staff reporter
Landmark ruling on vehicle plates
GOVERNMENT has been ordered to reimburse motorists who paid for new vehicle registration plates in foreign currency since July last year, but failed to get them.In a landmark ruling on Wednesd...Published: 16 Apr 2021 at 07:52hrs | 918 | by Staff reporter
Govt, teachers should not play Russian roulette with children's lives
THE fact that things are not well in the education sector is a major concern to all of us as citizens of this country.It is a right that children should access excellent education provided by ...Published: 15 Apr 2021 at 07:32hrs | 830 | by Chief Chiduku
Why Zimbabwe must dollarise again
THE Reserve Bank of Zimbabwe (RBZ)'s new Monetary Policy Committee (MPC) hit the ground running on March 26, announcing a raft of policy measures to sustain the fragile stability that has seen inflati...Published: 15 Apr 2021 at 07:32hrs | 3385 | by Taurai Mangudhla
NetOne seeks Zimdollar fuel to power boosters
STATE-run mobile telecommunications company, NetOne, has appealed to government to avail fuel to the telecommunications sector in local currency to ensure 24-hour connectivity, particularly in rural a...Published: 12 Apr 2021 at 07:24hrs | 1049 | by Staff reporter
Zimdollar maintains stability
THE Zimbabwe dollar continues to maintain stability on the official weekly foreign currency exchange auction system with marginal fluctuations against the greenback exhibiting market confidence in the...Published: 08 Apr 2021 at 08:42hrs | 621 | by Staff reporter
Zimdollar to remain stable
TWO years ago, the new Minister of Finance in Zimbabwe brought together a small group of local business persons in an informal advisory group. I was privileged to be included.Our meetings were...Published: 29 Mar 2021 at 18:10hrs | 613 | by Eddie Cross
Govt defends varsity fees hike
THE government has defended the increase in tuition fees by higher learning institutions despite disgruntlement by hard-pressed parents and guardians. This comes as the authorities granted pol...Published: 22 Mar 2021 at 15:38hrs | 596 | by Staff reporter
Zimbabwe's no go routes for Ngwena's motorcade.
I knew no politics by 1980 because I was still too young. I remember well in the early 1980s we used to read about Mugabe and Nkomo but this history made little sense to our young apolitical minds by ...Published: 22 Mar 2021 at 06:29hrs | 6049 | by Etiwel Mutero
Govt probes RBZ Zimdollar fuel facility abusers
GOVERNMENT has launched investigations to ascertain whether the Reserve Bank of Zimbabwe facility to avail foreign currency to oil companies to procure fuel was not being abused.This was revea...Published: 22 Mar 2021 at 06:15hrs | 1911 | by Staff reporter
Switch of bank accounts to Zimdollars valid, Supreme Court rules
Sums in accounts denominated in US dollars were legally converted to sums denominated in Zimbabwe dollars in terms of a Reserve Bank of Zimbabwe directive when the local currency was reintroduced, the...Published: 19 Mar 2021 at 05:58hrs | 830 | by Staff reporter
Repossessed Bulawayo stands up for grabs
BULAWAYO City Council (BCC) has given notice to resell housing stands repossessed after their owners failed to develop them within the stipulated timeframe.In terms of section 5 of the Titles ...Published: 12 Mar 2021 at 06:04hrs | 1454 | by Staff reporter
Zimdollar remains steady
THE Zimbabwean dollar remains steady against the United States at 1:83 this week with the Reserve Bank of Zimbabwe (RBZ) saying it has resolved the issue of delayed settlement of foreign currency auct...Published: 24 Feb 2021 at 17:01hrs | 977 | by Staff reporter
Zimdollar to weaken after lockdown
DESPITE enjoying some illusory stability owing to depressed demand for foreign currency due to Covid-19 lockdowns, which reduced business activity, the Zimbabwe dollar remains volatile with high risks...Published: 19 Feb 2021 at 07:08hrs | 1393 | by Staff reporter
Zimdollar will maintain a 'fragile stability' this year report
ZIMBABWE's currency will maintain a "fragile stability" this year, continuing from the volatilities that haunted the domestic unit even after the introduction of theforeign currency auction system...Published: 17 Feb 2021 at 06:11hrs | 818 | by Staff reporter
Zimdollar depreciates
The local currency depreciated by almost a percentage point on Tuesday in an auction which failed to make allotments on all qualified bids. The Zimbabwe dollar was quoted at 82.6756 after depreciating...Published: 27 Jan 2021 at 06:10hrs | 6633 | by Staff reporter
Zimdollar maintains momentum
The Zimbabwe dollar was virtually unchanged against the US dollar, although firming by a very marginal 0,01 percent to $82,08 from $82,09 to the greenback after yesterday's central bank auction. ...Published: 20 Jan 2021 at 06:43hrs | 457 | by Staff reporter
Zimdollar maintains stability after first auction of the year
THE Foreign Currency Auction Trading System resumed activity after the festive season break with the Zimbabwe dollar maintaining stability despite marginally weakening by 0,44 percent from an exchange...Published: 12 Jan 2021 at 17:58hrs | 1658 | by Staff reporter
Zimdollar depreciates
Parallel market Zipit rates have held steady within the 110-115 range although it seems that volume sellers were scarce within the past couple of days. At the same time, the local currency slipped aga...Published: 22 Dec 2020 at 17:40hrs | 2611 | by Staff reporter
State of Bulawayo roads worry human rights group, BCC petitioned
THE Matabeleland Institute for Human Rights (MIHR) has expressed concern over the state of roads in Bulawayo which are littered with potholes.This has prompted the civic society group to petit...Published: 22 Dec 2020 at 06:50hrs | 480 | by Staff reporter
Mangudya slams Ncube tariff increases
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya has launched a rare scathing attack on the government for steeply increasing tariffs for public utilities, warning the decision will have serious ...Published: 18 Dec 2020 at 06:21hrs | 5355 | by Staff reporter
Zimdollar firms against the United States dollar
The Zimbabwe dollar traded firmer against the United States dollar in yesterday's foreign currency auction, edging up almost 0,15 percent, that is about one seventh of one percent, to $81,73 from $81,...Published: 16 Dec 2020 at 06:40hrs | 1059 | by Staff reporter
Zimbabwe looking forward to merrier Christmas
Ordinary Zimbabweans and businesses are poised to have a much better festive season this year. This comes as the Zimdollar has been holding steady against the US dollar in recent months. ...Published: 14 Dec 2020 at 07:46hrs | 378 | by Staff reporter
Increased demand for US$ on black market
An increase in US$ demand on the parallel market has seen the rate shifting upwards although it remains range bound. Rates are being quoted from $105 to $120 with demand mostly coming from small trade...Published: 08 Dec 2020 at 18:27hrs | 1502 | by Staff reporter
Mthuli Ncube piles more misery on Zimbabweans
FINANCE minister Mthuli Ncube yesterday dampened the hopes for a merry Christmas for the majority Zimbabweans after he reviewed the tax-free threshold to $10 000, about half the cost of a monthly bask...Published: 27 Nov 2020 at 07:28hrs | 3988 | by Staff reporter
Zimbabweans demand US dollar budget
ZIMBABWEANS have expressed mixed feelings on the 2021 national budget presented by Finance minister Mthuli Ncube in Parliament yesterday, saying it should have been configured in United States dollars...Published: 27 Nov 2020 at 07:20hrs | 728 | by Staff reporter
'Govt must compensate for lost pension earnings'
GOVERNMENT and insurance companies have an obligation to compensate pensioners who lost the true value of their pension savings in two consecutive periods of hyperinflation, 2008 to 2009 and 2019, law...Published: 21 Nov 2020 at 22:20hrs | 317 | by Staff reporter
Zimdollar continues fine run
The Zimbabwe dollar saw its smallest move since the start of the auction system yesterday, easing one ten thousandth of one percent and effectively remaining unchanged at $81,67 to the United States d...Published: 11 Nov 2020 at 05:30hrs | 1245 | by Staff reporter
Govt losing millions as firms evade US dollar tax
THE Zimbabwe government is being cheated of millions of United States dollars in tax revenue by businesses that are accepting foreign currency payments but not declaring or under-declaring the forex p...Published: 06 Nov 2020 at 06:47hrs | 682 | by Staff reporter
Councils mustn't demand forex, says Chombo
GOVERNMENT has threatened to deal with local authorities demanding payment of bills in foreign currency at 1:1 exchange rate.This was said by Local Government deputy minister Marian Chombo yes...Published: 05 Nov 2020 at 06:26hrs | 1431 | by Staff reporter
Zimdollar weakens against USD
The local currency continued to fluctuate within the 81.00 band as it depreciated against the dollar. The ZWL lost 0.3929% to trade at 81.6740 against the dollar from 81.3531 attained late last week. ...Published: 03 Nov 2020 at 20:15hrs | 5951 | by Staff reporter
'We need more Zimdollar than US$'
UNITED Refineries Limited (URL) chief executive officer, Mr Busisa Moyo says the Bulawayo headquartered agro-processing company needs more of the local dollar to localise production of key raw materia...Published: 30 Oct 2020 at 06:19hrs | 1150 | by Staff reporter
Zimdollar weakens against the US dollar
The Zimbabwe dollar moved marginally by less than a third of a Zimbabwean cent, against the US dollar at yesterday's Reserve Bank of Zimbabwe (RBZ) foreign currency auction, trading 0,004 percent high...Published: 28 Oct 2020 at 06:25hrs | 3088 | by Staff reporter
Zimdollar flat as street traders push cash transactions
The local currency was flat on Tuesday after it depreciated by a marginal 0.004% at the latest auction to trade at 81.3531 against the US dollars while the street rate remains range bound at between 9...Published: 27 Oct 2020 at 17:45hrs | 7905 | by Staff reporter
Zimbabwe churches paint gloomy picture
THE Zimbabwe Council of Churches (ZCC) yesterday painted a gloomy picture of the country's economic situation, claiming several attempts by the churches to engage Finance minister Mthuli Ncube to prof...Published: 27 Oct 2020 at 07:18hrs | 1521 | by Staff reporter
'Measures to insulate Zimdollar against erosion sustainable'
Measures put in place to insulate the local currency against erosion are sustainable beyond the lockdown, Finance and Economic Development Minister Professor Mthuli Ncube has said, despite the reopeni...Published: 26 Oct 2020 at 06:39hrs | 1445 | by Staff reporter
RBZ bouyant over Zimdollar
Reserve Bank of Zimbabwe (RBZ) governor John Mangudya says he is doing everything in his power to maintain a four-month stretch of exchange rate stability achieved since the introduction of the foreig...Published: 25 Oct 2020 at 08:28hrs | 6334 | by Staff reporter
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