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Today: September 15, 2024
2 weeks ago

Zimbabwe central bank says it’s intervening in foreign exchange market amid ZiG slump

zimbabwe-central-bank-says-it’s-intervening-in-foreign-exchange-market-amid-zig-slump
Zimbabwe central bank says it’s intervening in foreign exchange market amid ZiG slump

Spread This NewsBloomberg Zimbabwe’s central bank said it’s “strategically intervening” in the foreign-exchange market to meet demand for dollars among lenders amid a slump in the nation’s bullion-backed currency. The intervention is being done using 50% of the foreign-exchange proceeds that the central bank collects from exporters, Governor John Mushayavanhu said, without disclosing the amount.

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