Connect with us

Hi, what are you looking for?


RBZ Issues Warning to “Currency Speculators”

Currency speculators, according to the central bank, are fueling currency volatility, which leads to price instability.

According to Business Times, the Zimbabwe dollar was trading on the parallel market last week at ZWL$950:US$1 from about ZWL$800:US$1 two weeks earlier.

The Zimbabwe dollar was trading at ZWL$671.44: US$1 at the auction system last week, down from ZWL$654.86: US$1 two weeks before.

Stephen Moyo, the Reserve Bank of Zimbabwe’s (RBZ) senior economist, told stakeholders in Bulawayo last week:

We are collaborating with other government agencies, such as the Financial Intelligence Unit, to ensure that such behavior is minimized, because speculators contribute to a lot of speculation, which contributes to currency destabilization.

Advertisement. Scroll to continue reading.

So, all you quick-rich speculators, your days are numbered, and the long arm of the law will deal with you. There will be little speculation.

Forward pricing strategies have been pursued by businesses, which have a negative influence on inflation and exchange rate expectations.

Furthermore, informal companies are abandoning local money in favor of exchanging practically all items in US dollars.

In other news,

Former Vice President’s son lover spared jail


Advertisement. Scroll to continue reading.

Former Vice President John Landa Nkomo’s son Sandlasami’s ex-lover who broke into his house as punishment for dumping her was spared the agony of jail life when she appeared in court charged with unlawful entry and theft.

Tinevimbo Hove (22) pleaded guilty to both charges when she appeared before Bulawayo magistrate Max Ncube.

The court heard that Sandlasami’s romance with his long-time lover went sour forcing him to terminate the…continue reading

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Catch More Updates Below


The Reserve Bank of Zimbabwe (RBZ) has made a strategic move to bolster the stability of the Zimbabwean Dollar (ZiG) by adjusting the foreign...


“All fuel sales will exclusively accept ZiG as payment”: Guvamatanga Finance, Economic Development, and Investment Promotion Permanent Secretary George Guvamatanga announced that all Government...


The Reserve Bank of Zimbabwe (RBZ) has directed all banks and microfinance institutions that are not compliant with the regulatory minimum capital requirements not...


Demand Surges for RBZ Gold-backed Digital Tokens: ZW$5.2 Billion Allocated RBZ Gold-backed Digital Tokens Issue No. 44/2024 saw a flurry of interest as the...


The Reserve Bank of Zimbabwe (RBZ) has successfully appealed against a Labour Court decision supporting the reinstatement of its former economist, Philton Makena, who...


The Reserve Bank of Zimbabwe has launched an inquiry into Kreamorn Investments (Private) Limited, following gross allegations of misconduct. The investigation was prompted by...


The Reserve Bank of Zimbabwe (RBZ) has released the Mosi-Oa-Tunya gold coin price and gold-backed digital token price per milligram (MG) as of 07...


The Reserve Bank of Zimbabwe (RBZ) is reportedly planning to stabilise the Zimbabwe dollar by introducing a new currency backed by gold tokens. The...