The Reserve Bank of Zimbabwe (RBZ) has announced a refined strategy to attract and retain foreign currency, aimed at enhancing the flexibility of the willing-buyer willing-seller interbank market for foreign exchange.
Apparently, RBZ has since adopted a market-determined system for setting exchange rates, replacing the auction system.
The central bank itself will help feed the market with the 25 percent surrender export earnings.
According to the Central Bank there is now adequate foreign currency reserves to cover all import requirements, so legitimate businesses will not have to turn to the black market.
Meanwhile, below is interbank foreign currency exchange rate, gold coin and gold-backed digital token prices as at 3 January 2025.
Zwnews
