12 °c
London
Tuesday, April 20, 2021
No Result
View All Result
FurtherAsia FurtherArabia FurtherBrazil FurtherRussia
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Zimbabwe central bank tightens rules for currency exchanges

FurtherAfrica by FurtherAfrica
September 23, 2019
in Africa, Currency, Zimbabwe
Reading Time: 1 min read
0
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Zimbabwe’s central bank has tightened the rules governing the trade of foreign currency by money exchange offices with immediate effect.

The rates offered by exchange offices must be 7% above or below the interbank mid-rate, the central bank said in an emailed statement. Failure to comply would result in either heavy financial penalties or license revocation, it said. The southern African nation has 200 licensed exchange outlets.

Since a parity peg to the US dollar was dropped in February, the local currency has slumped to 14.43 to the dollar, making it the world’s worst performer. It’s even weaker on the parallel market at 20.3 versus the U.S. currency, according to marketwatch.co.zw, a website that tracks unofficial rates.

The government earlier this week declared a state of disaster, threatened by the country’s worst-ever famine after harvests were hit by a drought and cyclone-induced floods.

Source: Bloomberg

Related

Tags: currency exchangeFeatureforeign currencyinterbank mid-rateus dollarzimbabweZimbabwe Central BankZimbabwe Reserve Bankзимбабвеزيمبابويジンバブエ津巴布韦
ScanSendShare320Tweet200Share56Pin72Send
Previous Post

China-Namibia road construction companies contribute to drought relief efforts

Next Post

Report: CEOs in Africa skeptical of revenue growth this year – What you need to know

FurtherAfrica

FurtherAfrica

Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

Related Posts

Economy

Angola: Fitch estimates growth of 1.7% this year

by FurtherAfrica
April 20, 2021
Ethiopia’s Assela wind farm project enters construction
Renewables

Eastern and Southern Africa’s vast renewables potential offers route to sustainable growth

by Staff
April 20, 2021
Coronavirus

Ethiopian Airlines delivers COVID-19 vaccine to Brazil; over 20 million doses delivered worldwide

by Staff
April 20, 2021
Mozambique

Mozambique: Metical appreciated 35% this year, but earnings expected to reverse – Standard Bank

by FurtherAfrica
April 20, 2021
Wilderness Safaris opens the new DumaTau camp in Botswana
Tourism

Wilderness Safaris opens the new DumaTau camp in Botswana

by BOTSWANA UNPLUGGED
April 20, 2021
Next Post
East African countries continue to offer highest rewards for investors

Report: CEOs in Africa skeptical of revenue growth this year - What you need to know

Tanzania seeks external market for maize and millet

Tanzania to deliver 100,000 Tons of corn to Zimbabwe in weeks

United Arab Emirates, Angola move to cereal production

United Arab Emirates, Angola move to cereal production

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

2021 AFSIC
2022 Indaba Mining

FurtherAfrica Partners

The Exchange Club of Mozambique Taarifa Rwanda
CrudeMix Africa TechGist Africa Farmers Review Africa
Botswana unplugged Financial Insights Zambia Africa Oil & Power
Harambee Africa Novafrica  

Subscribe to FurtherAfrica

Enter your email address to receive notifications of new articles on your email.

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About

© 2021 FurtherMarkets

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?