It has also suspended the managed floating exchange rate announced on 11 March and adopted a fixed exchange rate at which the Zimbabwe dollar will trade at 25:1 with the United States dollar.
The Reserve Bank of Zimbabwe said this will be reviewed when the market stabilizes from the effects of the coronavirus.
The central bank said it is reviewing its policy rate from 35% to 25% and hopes banks will do the same with their lending rates.
Below is the full RBZ statement:
(193 VIEWS)
The role of social media on how people get their news in Zimbabwe is being…
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…
