Gvt To Supply US $500 Million To Interbank Forex Market 20 May: Mangudya

The Zimbabwe government has claimed it will supply US $500 million to the Interbank Forex Market. This, the RBZ’s Twitter account said, would happen on Monday, 20 May 2019. The statement was attributed to Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya, and was announced on the RBZ Twitter account on Saturday afternoon.

Government through the Reserve Bank of Zimbabwe is drawing down US$500 million on Monday, 20 May 2019, to supply the interbank forex market to meet the forex payment requirements of business and individuals. This amount shall go a long way to stabilise the exchange rates and prices of goods and services in the economy – J P Mangudya Governor.

No information was provided on where the money had been sourced from.