BANKS START FOREX TRADING

Banks have commenced trading in foreign currency at a rate of 2,5 to the United States dollar following the decision by the Reserve Bank of Zimbabwe (RBZ) to float the currency on Wednesday.┬áThis rate, according to observers, is likely to bring stabili…

Banks have commenced trading in foreign currency at a rate of 2,5 to the United States dollar following the decision by the Reserve Bank of Zimbabwe (RBZ) to float the currency on Wednesday. This rate, according to observers, is likely to bring stability to the market. RBZ governor Dr John Mangudya announced the introduction of an inter-bank foreign exchange market while delivering his monetary