Civil servants Nostro debit cards

RBZ speaks on unavailability of Nostro debit cards for civil servants

Some civil servants have been wondering why their respective banks haven't availed debit cards for their Domestic Nostro accounts, weeks after Finance Minister Mthuli Ncube announced the US$75 allowance. Well, the answer is here now. In a statement released by the Reserve Bank of Zimbabwe this afternoon, the central bank said many banks were caught … Continue reading RBZ speaks on unavailability of Nostro debit cards for civil servants

CBZ banks civil servants Nostro US dollars

Banks accused of holding civil servants at ransom over Nostro account US dollars

Secretary for Information Nick Mangwana has called out banks that are forcing civil servants to convert their US Dollars in their Nostro accounts to local currency within banks they bank with. Some unscrupulous banks are impelling civil servants to liquidate their US$75 within the bank, in the process shamelessly mopping up forex from poor workers. … Continue reading Banks accused of holding civil servants at ransom over Nostro account US dollars

Zimbabwe foreign currency auction system

30/06: New official rate out, Zim dollar value down by 11%

The second foreign currency auction has taken place today and it has established that the new official exchange rate is ZWL$63.74. This is an increase of ZWL$6.39 from last week's inaugural rate of ZWL$57.35 In other words, the Zimbabwe dollar has lost 11.14% from last week. The highest rate which was bid on the foreign … Continue reading 30/06: New official rate out, Zim dollar value down by 11%

Man holding US dollars in Zimbabwe

Civil servants to get a Zim dollar raise & US dollar allowance for 3 months

Government has just announced that civil servants will get 50% salary hikes and a USD$75 non-taxable allowances starting from this month. Government also has a surprise gift for pensioners who will start to be given a US$30 non-taxable allowance as well. However, this arrangement will only last for just 3 months, up to August. Government … Continue reading Civil servants to get a Zim dollar raise & US dollar allowance for 3 months