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[DOWNLOAD] Reserve Bank of Zimbabwe 2019 Monetary Policy Statement

STRENGTHENING THE MULTI-CURRENCY SYSTEM FOR VALUE PRESERVATION & PRICE STABILITY

The Bank has taken note of the excellent contributions from the business community, bankers,
the academia, the media and members of the public on the need to establish an inter-bank foreign
exchange market to formalise the selling and buying of USDs through banks and bureau de
change. This is essential in order to bring sanity in the foreign currency market whilst at the same
time promoting exports, diaspora remittances and investments for the good of our national
economy.

The Bank considered the implications – accounting, financial, economic, legal and social – that
are embedded in the establishment of an inter-bank forex market within the context of the current
national payment systems made up of RTGS, mobile payment platforms, point of sale (POS),
bond notes and coins.

After taking account of the implications and putting in place safeguards to maintain stability in
the fares market, the Bank is, with immediate effect, establishing an inter-bank foreign exchange
market in Zimbabwe to formalise the trading of RTGS balances and bond notes with USSs and
other currencies on it willing-buyer willing-seller basis through banks and bureaus de change
under the following framework:

DOWNLOAD MONETARY POLICY

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