Zimbabwe’s economy is being driven by two main currencies, the US dollar and the Bond Note. However, the bond note is reportedly not even a currency to begin with. It is just “for ease of change” as explained by a minister. Maybe, that’s where our problem begins. The Confederation of Zimbabwe Industries (CZI) stated that… Continue reading Zimbabwean Currency On The Verge of Collapse
Tag: Foreign Exchange Auction
RBZ exposes 18 companies that have been abusing the foreign exchange system
The RBZ launched the foreign exchange system on the 23th of June 2020. It is still in function to this day. The system’s main aim is to minimise the impact of foreign exchange rates on businesses. Some businesses were able to minimise losses by up to $5.5 million since they began using the foreign exchange… Continue reading RBZ exposes 18 companies that have been abusing the foreign exchange system
Wondering who is benefiting from the RBZ Forex Auction? Here’s a list.
The RBZ Foreign Auction is a system that came into play starting on June 23 2020. This system serves the purpose of improving transparency and efficiency in trading of forex in Zimbabwe. To prove the effectiveness of this system, Zimplats managed to use it to reduce foreign exchange losses by a staggering $5.5 million. However,… Continue reading Wondering who is benefiting from the RBZ Forex Auction? Here’s a list.
The surprising story of Zimplats and US$5,5 million
Zimplats, a unit of Impala Platinum Holdings has reported some very noteworthy news relating to their use of foreign currency. During the half year ended December 31, 2020, Zimplats was able to reduce foreign exchange losses by an impressive US$5,5 million. Before we dive into how they were able to do that, we’ll take a… Continue reading The surprising story of Zimplats and US$5,5 million