It has directed banks to transfer the Zimbabwe dollars they are holding to the Reserve Bank in a measure that is expected to mop out $1.2 billion from the market by the end of this week.
It has increased the interest rate on its overnight window from 15 percent to 50 percent.
It has removed administrative limits on the operation of bureaux de change and on the cap on margins for banks for the interbank foreign exchange transactions.
It has put in place lines of credit amounting to US$330 million for the importation of fuel, cooking oil and wheat and has increased the supply of foreign currency into the interbank market by ensuring that at least 50 percent of the surrender portion of foreign currency is sold to the interbank market.
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This post was last modified on June 25, 2019 9:43 am
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The tactic used is good. Why is that the opposition is happy about the suffering of the people. Brace the idea and let us support it. People in Zimbabwe are confused, why do you cry to use the US.