A total of 445 bids totalling nearly US$24 million were accepted at today’s auction but only 250 bids were allotted a total of US$13.9 million.
Business has been calling for the liberalisation of the foreign currency market because the auction is now playing a minimal role as nearly 90% of the foreign currency being paid out of the country is now coming from foreign currency accounts.
The government said it would be watching inflation trends before liberalising the market.
Reserve Bank of Zimbabwe governor, John Mangudya is expected to present his monetary policy statement next month.
(133 VIEWS)
This post was last modified on January 25, 2023 7:22 am
Economist Eddie Cross says the Zimbabwe Gold (ZiG) will regain its value if the government…
Zimbabwe’s capital, Harare, which is a metropolitan province, is the least democratic province in the…
Nearly 80% of Zimbabweans are against the extension of the president’s term in office, according…
The government is the biggest loser when there is a discrepancy between the official exchange…
Zimbabwe is currently in turmoil after it devalued its five-month old currency, the Zimbabwe Gold…
Zimbabwe today devalued its local currency, the Zimbabwe Gold (ZiG), by 44% to trade at…
