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The Reserve Bank of Zimbabwe (RBZ) is injecting US$50 million into the interbank forex market, the Central Bank’s Governor John Mushayavanhu has said.
In a statement, Mushayavanhu said the apex bank believes this will meet demand from banks, who have recently struggled to satisfy forex needs.
He said reserves are currently 4 times cover of reserve money (cash in circulation, Bank deposits).
Meanwhile, in US dollar, annual inflation was 3.6% in July, from 3.8% in June, according to Zimbabwe National Statistics Agency (ZimStat).
The weighted monthly inflation rate, measuring both ZiG and USD, was -0.1% in July, from -0.2% in June.
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