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
Tag: forex auction
Mthuli Ncube addresses increase in bank withdrawal limit
As a move to combat the black market, the Treasury chief and the Reserve Bank of Zimbabwe(RBZ), last year decided to put a limit on the amount of money can be withdrawn. The then established bank withdrawal limiting was placed at $2000. This limit was therefore unsatisfactory to a number of citizens who wanted the… Continue reading Mthuli Ncube addresses increase in bank withdrawal limit
Magaisa critics the RBZ Forex Auction beneficiaries list. Are we being sold a dummy?
The RBZ released a report that revealed the beneficiaries of the RBZ Forex Auction. As expected the report was met with much criticism. Alex T Magaisa, ‘former adviser of a PM OF Zimbabwe and to the constitution making team,’ shared the following remarks: “The Reserve Bank Of Zimbabwe announced a list of what it called… Continue reading Magaisa critics the RBZ Forex Auction beneficiaries list. Are we being sold a dummy?