The Reserve Bank of Zimbabwe Governor John Mangudya says the country has registered a growth in foreign exchange in its nostro balances.
He says the forex growth in the banking system is a result of an increase in mineral exports, an increase in diaspora remittances and improvement in the operating business environment.
“Zimbabwe’s banking system has US$1.1 billion on its nostro foreign currency position.
“The total banking deposits stand at an equivalent level of US$2.5 billion,” Dr John Mangundya.
Mangudya made the disclosure while giving an update on the foreign exchange auction system.
Below is the Foreign Exchange Auction Results – 15 December 2020:
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