Mthuli To Set Up A Currency Stabilisation Task Force

The Finance Minister in the joint press conference he held with the RBZ Governor announced that he will set up a Currency stabilisation task force to help stabilise the currency. According to the Minister, the taskforce which will meet once a week will:

  • Review the conditions in the markets,
  • Monitor the behaviour of key variables such as the exchange rate and inflation, and to
  • Ensure that outlined measures are expeditiously implemented.
  • Put in place additional policy measures, where necessary.

Speaking at the press conference the finance minister further said:

Bureau de changes will now be able to buy cash from RBZ to use to buy forex. They will be market takers, not makers

The Reserve Bank will terminate the goal incentive system once the Reuters platform goes up and monitor daily exchange rates. The Reserve Bank will work with major importers to meet their forex demand

 

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