The Reserve Bank of Zimbabwe (RBZ) has lowered the foreign currency retention level for exporters from 75% to 70 percent, effective immediately.
RBZ governor John Mushayavanhu says this to strengthen foreign currency reserves and stabilize the local currency, ZiG (short for Zimbabwe Gold).
Mushayavanhu announced the change in the 2025 Monetary Policy Statement, emphasizing the need to bolster reserves and ensure sufficient ZiG for local obligations.
The RBZ also introduced a US Dollar Denominated Deposit Facility for exporters and removed limits on interbank forex access to enhance market efficiency.
Zwnews
