Foreign Exchange Auction System

Zimbabwe is shaking things up in its foreign exchange market, transitioning from a controlled auction system to a market-driven approach. The move, announced by the Reserve Bank of Zimbabwe (RBZ), is designed to improve access to foreign…
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The Reserve Bank of Zimbabwe yesterday listed the first 18 firms facing civil penalties under the new Statutory Instrument 127 after being caught abusing the foreign exchange auction system, with Zimbabwe Stock Exchange listed company…
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Business entities which have not complied with the moral suasion directive to display prices for goods and services in Zimbabwe dollar and foreign currency at the ruling market exchange rate will now face the full wrath of the law,…
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