ZB Bank moneychangers

ZB Bank dismisses rumours about participating in the black market

It seems bogus moneychangers are widely on the loose. Yesterday, it was the RBZ that warned us about bogus people masquerading as RBZ officials and now its ZB Bank that's also warning the public over the same reason. Yes, there are moneychangers who are plying their trade pretending to be ZB Bank personnel, at least, … Continue reading ZB Bank dismisses rumours about participating in the black market

Bond notes Zimbabwe dollar

RBZ warns public against moneychangers impostering RBZ officials, also denies participating in black market

Some desperate moneychangers are reportedly impostering as RBZ officials. A statement issued by RBZ says that the public should be vigilant against illegal foreign currency traders who are masquerading as RBZ officials as they ply their trade. The central bank then went on to dismiss a commonly held belief that it participates in the black … Continue reading RBZ warns public against moneychangers impostering RBZ officials, also denies participating in black market

Reserve Babe of Zimbabwe Financial Intelligence Unit

Nowhere to run to for moneychangers as RBZ instructs ZIPIT to reduce transaction limits

The Reserve Bank of Zimbabwe's Financial Intelligence Unit instructed Zimswitch to reviewed downwards transaction limits on its ZIPIT platform. The new limits allows users to transact just a maximum of ZWL$20 000 per day and ZWL$100 000. FIU says this has been done after witnessing the misuse of these limits through the funding of illegal … Continue reading Nowhere to run to for moneychangers as RBZ instructs ZIPIT to reduce transaction limits

Gold US dollars

Paying US Dollars to gold miners is going to ease pressure on the exchange rate – Mangudya

The Reserve Bank of Zimbabwe Governor, Dr. John Mangudya seems to have a come up with masterstroke that kills two birds with one stone. Of late, RBZ's gold buying unit, Fidelity Printers has been failing to pay small scale gold miners. But yesterday the Governor confirmed that they have found a way to ensure steady … Continue reading Paying US Dollars to gold miners is going to ease pressure on the exchange rate – Mangudya

High Court of Zimbabwe

EcoCash lose case against RBZ to unfreeze Agents’ accounts

EcoCash's bid to unfreeze the accounts of its Agents has failed after losing their case against Reserve Bank of Zimbabwe in the High Court. Two weeks ago,the largest mobile money operator asked the High Court to overturn a RBZ directive which blocked EcoCash's Agents' accounts who could move at least ZWL$100 000. EcoCash sought to … Continue reading EcoCash lose case against RBZ to unfreeze Agents’ accounts

Reserve Bank of Zimbabwe Governor John Mangudya

RBZ Governor, Mangudya now blames behaviour of Zimbabweans for black market rates

New week, new blame. Turns out that the black market is thriving because of Zimbabwean's newfound speculative behavior, according to the Reserve Bank of Zimbabwe Governor, Dr. John Mangudya. He said this in response to allegations that the central bank smuggles Zimbabwe dollars' into the black market, therefore, it's the one that is fuelling illegal … Continue reading RBZ Governor, Mangudya now blames behaviour of Zimbabweans for black market rates