Commenting on the exchange rate issues, the Reserve Bank of Zimbabwe (RBZ) said the foreign exchange rate on the interbank market, which the RBZ introduced through the monetary policy of February 22, was freely floating, market-based and moving towards convergence with the black market rate. The issue is all about the price (exchange rate),” Dr Mangudya said. Fax +263 (292) - 274039 Reserve Bank of Zimbabwe (RBZ) governor John Mangudya says he is doing everything in his power to maintain a four-month stretch of exchange rate stability achieved since the introduction of the foreign currency auction system in June. RBZ switches to managed float exchange rate after currency breaches 40-mark. THE Reserve Bank of Zimbabwe (RBZ), which was using the fixed exchange rate of US$1:$25, says it will switch back to market-determined exchange rate as the Zimbabwe dollar continues to lose value.The RBZ adopted this fixed exchange rate in March to stabilise the rapidly collapsing Zimdollar, but in recent weeks the exchange rate has plummeted to US$1:$80, forcing a rethink From 1 May 2015 exchange rates are the WM/Reuters 2:00pm fixes published by the NZFMA. FORMER legislator and Monetary Policy Committee member Eddie Cross has made sensational claims that the Reserve Bank of Zimbabwe (RBZ) was printing $1 billion weekly mainly to buy gold. Prior to 1 January 1999 the TWI was calculated using a five currency basket - USD, GBP, AUD, JPY, and DEM. “There shall be only one foreign exchange rate to be used in the market for the importation of all goods and services. The LCs will also be priced at the prevailing interbank foreign exchange rates. Foreign exchange rate … “So we now call upon the church, to help by prayers so that we have hope on the economy as well because most people are just negative on everything. “It does not take much to move the parallel market rate. Check today's rates. Bulawayo Regional Office 93 Leopold Takawira Avenue Bulawayo. “We are happy that the RTGS$ is working smoothly as a settlement account. THE Reserve Bank of Zimbabwe (RBZ) said on Monday its monetary policy committee (MPC) had agreed to maintain the policy rate … “This shortfall arises directly as a result of our client being paid in RTGS currency as opposed to being paid in USD.”. Zimbabwe’s largest industrial lobby group, Confederation of Zimbabwe Industry (CZI), has demanded a “truly” floating foreign exchange rate to improve foreign currency trading on the interbank market as well as its availability in order to ease the effect of parallel market rate premiums on prices. Exchange Rates. “This is because it actually has a lot to do with policy and when we speak to exporters (holders of foreign currency), they are not happy about the exchange rate on the interbank market, so we are not seeing currency coming onto there. “Our client received short payments which left a balance owing at the end of each transaction,” the letter said. Reserve Bank of Zimbabwe has let loose the interbank foreign exchange market, shifting away from a rather opaque system of trading and constant interference with the exchange rates oscillations on the bourse, it has emerged. This brought into sharp focus the central […] Until 31 December 1998 the Reserve Bank collected the NZD/DEM (Deutsche mark). Dr Mangudya said the RBZ has since directed banks to effectively apply the willing-seller willing-buyer principle to ensure that the interbank foreign exchange market is reflective of market conditions. Introduction of a Second Foreign Exchange Auction System for Small and Medium Enterprises .pdf [1.7 MB]; Introduction of a Foreign Exchange Auction Trading System .pdf [104 KB]; Exchange Control Directive RV175/2020 .pdf [100 KB]; Applicant Foreign Currency Bid Form .xlsx [410 KB]; Authorised Dealer Foreign Currency Bid Form .xlsx [409 KB]; FOREIGN EXCHANGE … The reference rates are referred to as the "WM/Reuters New Zealand Dollar Fixes 14:00", and is calculated using an internationally accepted methodology. THE Reserve Bank of Zimbabwe (RBZ) said on Monday its monetary policy committee (MPC) had agreed to maintain the policy rate at 35% as part of measures to keep speculative borrowing at bay. But economists say inflation levels will remain elevated due to a devastating drought that hit crops this year and pressure on the exchange rate due to expected food imports. 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