Zimbabwe registers growth in forex balances- Mangudya

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:

-Zwnews