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The parallel market exchange rates plummeted Monday morning following Reserve Bank of Zimbabwe (RBZ) announcement on Saturday evening that it would be releasing a US$500 million facility today to liquefy the inter-bank foreign exchange market, with high expectations that the move would ease foreign currency demand on the market, 263Chat
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Zimbabwe, once a prosperous agricultural economy in the southern subregion of the African continent, finds itself in an economic free fall, the latest data shows. The ongoing currency crisis, uncertainty over property rights, and corruption continue to pose a problem, as the nation is seeking to re-emerge from decades of
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After a dramatic last week in which the exchange rates skyrocketed and reached well above a 600 percent premium (1:7) the black market exchange rates went down over the weekend and now trading just over a 400 percent premium (1:5 ). Below are the black market rates iHarare has aggregated
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Black market forex rates Sunday took a tumble as news filtered that the Government, through the Reserve Bank of Zimbabwe will Monday release US$500 million to supply the interbank foreign currency market, a move which will culminate in the reduction of basic commodities prices and dampen activities on the parallel
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A robust image for destination Zimbabwe will increase international tourists, exports and foreign direct investments (FDI) and enhance growth of the national economy and in turn create jobs, Vice President Kembo Mohadi has said.In his keynote address at the Zimbabwe China Business Forum today in Harare, VP Mohadi, said Zimbabwe
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BBC Facebook has removed hundreds of social media accounts and banned an Israeli firm due to “co-ordinated inauthentic behaviour” mainly targeting Africa. The fake accounts often posted on political news, including on elections in various countries, the firm said. Facebook has faced rising criticism for failing to stamp out misinformation on its platform. It
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Econet Wireless has launched an all-new YoMix app, with a fresh, sleek interface and a revamped menu, laden with several new functions. The app retains its hallmark functionalities of creating personalized bundles of voice, data, SMS & Value Added Services, offering discounted YoMix bundle combinations, and the option to buy bundles
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THE measures contained in the Transitional Stabilisation Programme (TSP) and the 2019 National Budget have seen Government revenue collections surpassing targets by 8,2 percent, Finance and Economic Development Minister Professor Mthuli Ncube has said. Prof Ncube said this while delivering a State of the Economy report in Parliament, amid high drama
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Zimbabwe’s money market has been hit by counterfeit bond notes largely found on the parallel market where unscrupulous cash dealers are preying on unsuspecting cash seekers, police have warned. In a statement, the ZRP Hillside camp in Bulawayo have warned members of the public that they need to be on the
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There was a massive spike in parallel market rates yesterday during the later part of the day. The spike was so big that some foreign currency dealers suspended trading yesterday as they waited for the market to correct itself after a single USD started trading for north of 6 RTGS$,
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