Zimbabwe's new currency weakens on interbank market

📆 14.03.2019 21:00:00
📰 SowetanLIVE

⏱ Reading Time:
22 sec. here
2 min. at publisher
📊 Quality Score:
News: 12%
Publisher: 63%

Deutschland Nachrichten Nachrichten

Deutschland Neuesten Nachrichten,Deutschland Schlagzeilen

The value of that currency had held unchanged at 2.5 to the U.S. dollar since Feb. 22, leading to accusations the central bank was manipulating the exchange rate.

Zimbabwe's new currency traded at 2.7 against the U.S. dollar on the interbank market on Thursday, its weakest level since the central bank last month removed a peg for its surrogate bond notes and electronic dollars, official data showed.

Harare ditched the discredited 1:1 dollar official peg on Feb. 20, and merged the bond notes and electronic dollars into a transitional currency called the RTGS dollar. Banks are allowed to buy and sell U.S. dollars at 2.5 percent either side of that rate. Governor John Mangudya told parliament on Monday that he expected the RTGS dollar to weaken further by the time important tobacco auctions open next Wednesday.

Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

Schreibe Kommentar

No shit

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Success of Zimbabwe's currency reform needs sound fiscal measures – IMF | IOL Business ReportZimbabwe is struggling to prop up its economy, weighed down by years of decline blamed on poor economic policies and political instability.
Herkunft: IOL - 🏆 46. / 51 Weiterlesen »