Forex auction

  • Markets

    RBZ starts clearing forex auction backlog

    THE Reserve Bank of Zimbabwe (RBZ) has started clearing the backlog of foreign exchange auction allotment after receiving funds from Treasury. In a statement on Tuesday, RBZ Governor John Mangudya said the central bank has received funds from Government. “Further to previous communication that Government would be providing funds to clear the ring-fenced backlog of foreign exchange auction allotments, the…

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  • Business Briefs

    RBZ forex auction is in trouble: Eddie Cross

    It is clear that the Auction for foreign exchange is in trouble. The arrears now stand at over US$200 million. That is equivalent to nearly Z$18 billion and the delays are having a serious impact on company cash flows and confidence in the system overall. While the SME Auction is playing a key role in the economy and is giving…

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  • Business Briefs

    RBZ climbs down on tough forex regulation

    THE Reserve Bank of Zimbabwe (RBZ) will only target abusers of the forex auction system as it made a U-turn on the new foreign currency regulation amid mounting pressure from businesses, it emerged yesterday. Statutory Instrument (SI) 127 of 2021 gazetted last month gave RBZ powers to impose hefty penalties on businesses accused of abusing foreign currency obtained from the…

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