The company said there was now a marked improvement in the availability of foreign currency on the interbank market.
The government secured US$500 million to boost the interbank market which was not trading properly as those with foreign currency were not willing to sell because of the low rate.
The black-market continues to spiral. The interbank rate is now at 5.64 against the black market rate of 7.9.
The central bank believes the black market and the interbank rate will both fall as the government is maintaining a tight rein of money supply.
Prices have, however, spiralled as they are pegged on the black-market rate but one economist warned businesses that they will close down in two months if they continue to increase prices as most people will not be able to afford the products.
(659 VIEWS)
Ten African countries are amongst the biggest debtors to China, but Zimbabwe is not among…
The Reserve Bank of Zimbabwe’s Monetary Policy Committee, which met on Friday last week, says…
Zimbabwe’s new currency further weakened to 13.4407 to the United States dollar today down from…
The United States lost its place as the most influential global power in Africa last…
The Reserve Bank of Zimbabwe governor John Mushayavanhu says street money changers who cash in…
The Zimbabwe International Trade Fair (ZITF) has announced an ambitious long-term plan to turn the…