US$45 Million Traded On Interbank Forex Market- Mangudya

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya says US$45 million has been traded over the past three weeks of the interbank forex market. This is a 25% increase in the average weekly trades compared to last month.

Said Mangudya:

We have noticed a significant improvement since the launch of the interbank forex platform, with trades amounting to US$45 million over the past three weeks

Last month, the RBZ made the local currency legal tender and created an official foreign currency exchange market to enable companies to easily buy foreign currency from willing sellers.

More: NewsDay

Reserve Bank of ZimbabweJohn Mangudya

The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About Reserve Bank of Zimbabwe

John Panonetsa Mangudya is an economist and the current Reserve Bank of Zimbabwe governor. Mangudya, who sits on many local and international boards .He was made RBZ governor after the expiry of Gideon Gono's term in 2014. He had been CBZ Holdings Ltd Chief Executive... Read More About John Mangudya

Comments

Back to top

Write a Comment

Your email address will not be published.