Search / Interbank foreign exchange
RBZ defends Zimbabwe forex surrender requirements
The Reserve Bank of Zimbabwe (RBZ) has reaffirmed the importance of current foreign exchange surrender requirements, emphasizing their critical role in supporting key economic sectors that lack direct...Published: 01 Jun 2025 at 14:37hrs | 2006 | by Staff reporter
Zimbabwe struggles to promote ZiG
THE Zimbabwean government faces challenges in promoting the Zimbabwe Gold (ZiG) currency for financial stability, as some businesses remain reluctant to accept it, preferring the U.S. dollar, which re...Published: 08 Feb 2025 at 12:52hrs | 584 | by Staff reporter
Zimbabwe central bank goes after informal traders forex, exporters' proceeds
The Reserve Bank of Zimbabwe (RBZ) has announced a further reduction in export retention proceeds, cutting them by an additional 5%, as part of measures aimed at boosting foreign currency reserves and...Published: 07 Feb 2025 at 06:43hrs | 1184 | by Staff reporter
Zimbabwe central bank cuts exporter retention threshold
The Reserve Bank of Zimbabwe (RBZ) has reduced exporters' foreign currency retention threshold from 75% to 70% as part of efforts to promote the use of the domestic currency, the Zimbabwe Gold (ZiG), ...Published: 07 Feb 2025 at 06:34hrs | 186 | by Staff reporter
RBZ keeps rates steady
Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu has announced that the bank policy rate will remain at 35%, and statutory reserve requirements will stay unchanged, as the central bank seeks ...Published: 05 Dec 2024 at 06:55hrs | 474 | by Staff reporter
Zimbabwe's central bank claims success in stabilising rate and inflation
The Reserve Bank of Zimbabwe (RBZ) has announced significant progress in stabilising the country's exchange rate and inflation following a series of monetary policy interventions, including a cumulati...Published: 04 Dec 2024 at 14:23hrs | 298 | by Staff reporter
RBZ pumps US$32 million into market
The Reserve Bank of Zimbabwe (RBZ) has infused approximately US$32 million into the interbank foreign exchange market over the past three weeks to stabilize the Zimbabwe Gold (ZiG) currency and addres...Published: 27 Oct 2024 at 12:19hrs | 157 | by Staff reporter
Zimbabwe injects US$64m into foreign currency market
The Reserve Bank of Zimbabwe (RBZ) has injected US$64 million into the foreign exchange market in response to a growing demand for hard currency, ensuring that all bona fide foreign currency applicati...Published: 20 Sep 2024 at 07:49hrs | 241 | by Staff reporter
Zimbabwe Central Bank issues revised forex market guidelines
The Reserve Bank of Zimbabwe (RBZ), through its Exchange Control department, has issued updated guidelines and compliance parameters for the interbank foreign exchange market, emphasizing the limitati...Published: 04 Sep 2024 at 07:46hrs | 129 | by Staff reporter
Zimbabweans told to approach banks for ZiG, USD
The Reserve Bank of Zimbabwe has enough reserves to satisfy the foreign currency requirements of all legitimate businesses and no company needs to go to the black market to pay for imports, RBZ Govern...Published: 12 Apr 2024 at 09:47hrs | 1 | by Staff reporter
Mnangagwa commits to free market economy
President Mnangagwa has pledged his Government's commitment to a complete free market economy, arguing there is no justification to put the burden of price determination on the Government.In r...Published: 11 Apr 2024 at 08:36hrs | 2 | by Staff reporter
How Mushayavanhu just removed zeroes from dying currency
Reserve Bank of Zimbabwe governor John Mushayavanhu has issued his maiden monetary policy statement, bringing with him a new gold-backed currency and promises to end the money-printing that tanked the...Published: 07 Apr 2024 at 10:19hrs | 3 | by Staff reporter
RBZ adopts market-based exchange rate
THE Reserve Bank of Zimbabwe (RBZ) has adopted a market-determined system for setting exchange rates, with the auction system being replaced by a refined interbank foreign exchange market which connec...Published: 06 Apr 2024 at 08:06hrs | | by Staff reporter
Zimbabwe foreign currency deposits shoot to US$1, 6 billion
Foreign currency deposits have surged to an impressive US$1.6 billion, largely attributed to growing confidence in the stability of the banking sector, as revealed by the Reserve Bank of Zimbabwe (RBZ...Published: 26 Oct 2023 at 06:23hrs | 3 | by Staff reporter
Gold tokens to become medium of exchange in Zimbabwe
THE Reserve Bank of Zimbabwe (RBZ) is finalising the modalities of rolling out the gold-backed digital tokens as a medium of exchange for domestic transactions to complement the US dollars, Governor D...Published: 10 Aug 2023 at 06:43hrs | 12 | by Staff reporter
Payment for goods priced in black-market rates suspended?
All payments have been suspended for goods supplied to Government ministries, departments and agencies and possibly priced using black market exchange rates with procuring units now compelled to do du...Published: 12 Aug 2022 at 06:34hrs | 2 | by Staff reporter
'Zimbabwe has $28 billion reserve money' Mnangagwa says
Zimbabwe has ZWL28 billion in reserve money, President Emmerson Mnangagwa has said. The President made the revelations through an OP-ED that was published in the state-owned Sunday Mail yesterday. ...Published: 02 May 2022 at 10:06hrs | 1 | by Mandla Ndlovu
'Measures to defend Zimdollar soon'
Government will soon announce a raft of measures to stabilise and defend the Zimbabwe dollar against emerging inflationary pressures, some of which are unwarranted as the economy is relatively in good...Published: 01 May 2022 at 11:10hrs | 1 | by Staff reporter
RBZ negotiates US$150m African bank deal
THE Reserve Bank of Zimbabwe (RBZ) says it has negotiated the unlocking of up to US$150 million from the Afreximbank through a Letter of Credit arrangement as part of efforts to widen support towards ...Published: 09 Aug 2021 at 07:34hrs | 1 | by Staff reporter
'Banks complicit in forex fraud'
A RESERVE Bank of Zimbabwe (RBZ) statement released yesterday exposed how banks have sidestepped central bank policies to help companies access foreign currency without enough reserves to fund their b...Published: 18 Mar 2021 at 05:48hrs | | by Staff reporter
Interbank trades hit US$5m daily
Over US$5 million is now being traded daily on the interbank foreign exchange market as business confidence on the platform continues to grow. President Mnangagwa revealed these statistics in ...Published: 13 Aug 2019 at 07:07hrs | | by Staff reporter
Cassava set to introduce ease of travel
Vaya has speeded the introduction of its new services, Vaya Carpool and Vaya Shuttle, in a bid to help ease the fuel and foreign currency crises in Zimbabwe.Zimbabwe has been facing a crisis i...Published: 09 Aug 2019 at 07:39hrs | 1 | by Staff reporter
Be aggressive with exports, says Mugabe cup announcer
Foreign Affairs and International Trade minister Sibusiso Moyo has urged exporters to be aggressive in order to penetrate all the markets, including the most dangerous ones.Last year, Zimbabwe...Published: 02 Aug 2019 at 07:58hrs | | by Staff reporter
RBZ liberalises fuel imports
Foreign currency-starved Zimbabwe has liberalised fuel imports by allowing authorised dealers to pay directly to foreign fuel suppliers upon exchange control approval in a move meant to ease pre...Published: 29 Jul 2019 at 14:46hrs | 1 | by Staff reporter
Zimbabwe receives $3bn foreign currency inflows
ZIMBABWE has received about $3 billion foreign currency inflows in the first half of the year and stands a chance to generate more through increased exports.Reserve Bank Governor Dr John Mangu...Published: 26 Jul 2019 at 08:48hrs | 2 | by Staff reporter
Forex retention to stay, says RBZ
THE Reserve Bank of Zimbabwe (RBZ) says the prevailing foreign currency retention levels on gold export proceeds will remain in place to support the interbank market established to improve foreign cur...Published: 24 Jul 2019 at 08:07hrs | 1 | by Staff reporter
IMF welcomes Mthuli Ncube's monetary reforms
The International Monetary Fund (IMF) says the latest reforms announced by both the Ministry of Finance and Economic Development through SI 142 of 2019 and the Reserve Bank of Zimbabwe through exchang...Published: 05 Jul 2019 at 07:49hrs | 1 | by Staff reporter
Giving Mthuli Ncube's mono-currency a fighting chance
It is July 1, 1916, World War 1, the Battle of the Somme. The British Army had been planning for weeks and months for a massive assault on German positions dug in around Somme, to relieve pressure on ...Published: 04 Jul 2019 at 18:46hrs | 2 | by Joseph Mverecha
Prices start dropping?
Prices of goods and services continue to tumble as the new measures to adopt a local currency begin to tame runaway speculative activities and upward movements of the parallel market exchanges rates t...Published: 30 Jun 2019 at 08:58hrs | | by Staff reporter
Mthuli Ncube mops up $190m local liquidity to support Zimdollar
Zimbabwe is looking to mop up as much as ZWL1.2 billion from the local market by the end of this week through direct transfer of balances from local finance institutions to the central bank while also...Published: 26 Jun 2019 at 19:34hrs | | by Staff reporter
RBZ hikes interest rate to 50%
THE Reserve Bank of Zimbabwe (RBZ) has increased the interest rate on its overnight window to 50 percent per annum from 15 percent in a bid to tame inflationary pressures alongside other measures mean...Published: 26 Jun 2019 at 07:10hrs | | by Staff reporter
Reserve Bank scraps US$10 000 daily trading limit for bureaux de change
THE Reserve Bank of Zimbabwe (RBZ) has scrapped the US$10 000 daily trading limit for bureaux de change and the 2,5 percent maximum profit margin for banks, in a bid to make the interbank forex market...Published: 26 Jun 2019 at 07:07hrs | | by Staff reporter
Mangudya avails US$330m for critical imports
The Reserve Bank of Zimbabwe (RBZ) has put in place letters of credit (LCs) amounting to US$330 million for importation of critical commodities such as fuel, cooking oil and wheat, as part of a raft o...Published: 25 Jun 2019 at 07:20hrs | | by Staff reporter
RBZ statement on the Interbank Foreign Exchange market
Further to the Statutory Instrument 142 of 2019 issued by the Hon. Minister of Finance and Economic Development Prof Mthuli Ncube on the removal of the multi-currency system in Zimbabwe and replacing ...Published: 24 Jun 2019 at 17:29hrs | 1 | by RBZ
Positive response to interbank forex market
THE Reserve Bank of Zimbabwe (RBZ) says the interbank market has, as at June 13, handled about US$154,7 million, with voluntary sales contributing the largest amount.Giving his presentation du...Published: 16 Jun 2019 at 09:41hrs | | by Staff reporter
Mthuli Ncube opens up
Zimbabwe is on a journey of reform. Nobody ever said it wouldn’t be a bumpy ride; but the most important thing is that the journey has begun, and we are heading in the right direction.The Tr...Published: 03 Jun 2019 at 10:11hrs | | by Mthuli Ncube
Why Zimbabwe is on the path to progress
Zimbabwe is on a journey of reform. Nobody ever said it wouldn't be a bumpy ride; but the most important thing is that the journey has begun, and we are heading in the right direction.The Tran...Published: 03 Jun 2019 at 07:23hrs | | by Prof Mthuli Ncube
'Biti destroyed Zimbabwe's ability to conduct its own monetary policy completely'
Finance and Economic Development Minister Professor Mtuli Ncube has said the monetary policy is a vital leg in Government's economic recovery efforts without which fiscal efforts alone are rather inad...Published: 31 May 2019 at 07:43hrs | 4 | by Staff reporter
Mnangagwa's govt polishes up interbank market
GOVERNMENT is working on ensuring efficient functioning of the interbank market to meet the economy's foreign currency requirements and bring sanity to price increases that are driven by black market ...Published: 28 May 2019 at 07:55hrs | | by Staff reporter
RBZ issues new Exchange Control Directive - Full-text
Reference is made to the Press Statement issued by the Governor on 20 May 2019 on the payment arrangements for fuel through the interbank foreign exchange market and the drawing down of US$500 million...Published: 24 May 2019 at 09:59hrs | | by RBZ
Zanu-PF rivals call for dialogue
Opposition political parties have renewed their appeal for inclusive national dialogue in the wake of the worsening economic crisis, with Nelson Chamisa's MDC party warning of calamitous demonstration...Published: 22 May 2019 at 07:01hrs | 1 | by Staff reporter
Duty on fuel reduced by half
Government has reduced duty on diesel and petrol to cushion consumers from the effects of the latest round of fuel price increases, an official in the Ministry of Finance and Economic Development has ...Published: 21 May 2019 at 23:21hrs | 11 | by Staff reporter
Fresh protests loom in Zimbabwe
Zimbabwe is now at risk of fresh protests after the cash-strapped government on Monday night unexpectedly announced that it had cancelled fuel subsidies for imports.Caught in a debilitating en...Published: 21 May 2019 at 18:10hrs | 1 | by ANA
After denials, ZERA hikes fuel price
The Zimbabwe Energy Regulatory Authority (ZERA) has effected fuel price adjustments from this Tuesday in light of the new measures taken by the Reserve Bank of Zimbabwe (RBZ) on fuel procurement based...Published: 21 May 2019 at 16:29hrs | 1 | by Staff reporter
RBZ scraps 1:1 rate for oil marketing firms
The Reserve Bank of Zimbabwe (RBZ) has directed banks to discontinue twinning arrangements for their customers, with a view to promote efficient functioning of interbank market and willing-buyer willi...Published: 21 May 2019 at 06:20hrs | | by Staff reporter
Fuel procurement now via interbank rate
GOVERNMENT has, with immediate effect, removed the 1:1 foreign currency exchange rate for the procurement of fuel by Oil Marketing Companies (OMCs), which will result in the interbank market being use...Published: 21 May 2019 at 06:19hrs | | by Staff reporter
RBZ statement on the payment arrangements for fuel through interbank foreign exchange market
The Reserve Bank of Zimbabwe has advised the public that with effect from 21 May 2019, the procurement of fuel by the Oil Marketing Companies (OM.) shall be done through the interbank foreign exchange...Published: 20 May 2019 at 17:29hrs | 1 | by Staff Reporter
Economic take-off main priority for Mangudya second term
Reserve Bank of Zimbabwe governor Dr John Mangudya (JM) was last week re-appointed for a second five year term. Sunday Mail Editor Victoria Ruzvidzo (VR) spoke to the central bank chief about his expe...Published: 12 May 2019 at 06:34hrs | | by Staff reporter
Foreign investors threaten ZSE pullout
The inability by foreign investors to repatriate capital and disinvestment proceeds from the country is hampering the performance of the Zimbabwe Stock Exchange, amid reports custodians are threatenin...Published: 03 May 2019 at 09:55hrs | | by Staff reporter
Mnangagwa told to be realistic
GOVERNMENT needs to be realistic about the economic situation in the country, captains of industry have said.They were reacting to statements made by President Emmerson Mnangagwa in his keynot...Published: 22 Apr 2019 at 08:38hrs | 2 | by Staff reporter
Load More Stories
