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.
Tag: Foreign exchange rates
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