ZTN Correspondent Zimbabwe has increased road toll fees by 450 percent, with light vehicles now attracting ZW$45 from ZW$10. Mini-bus fees are ZW$70 from ZW$15; and ZW$90 will be charged for buses while heavy vehicle drivers will pay ZW$115 from ZW$25. Haulage truck fees are ZW$225 up from ZW$50. These fees are in Statutory Instrument […]
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Ndakaziva Majaka The Zimbabwe dollar closed Tuesday’s auction down to $65.87 to the US dollar as the country continues in price discovery. Last week, the rate was at ZW$63,74 to the USD from a maiden offering ofZW$57,35. This means the obtaining official Zimbabwe dollar exchange rate to the USdollar is now ZW$65.87 until next Tuesday. […]
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Ndakaziva Majaka WITH Zimbabwe still in price discovery, the country’s Foreign Currency Auction System closed bids on Tuesday with a weighted average of ZW$63,74:US$1 from last week’s rate of ZW$57,35 to US$1. This means Zimbabwe’s official exchange rate is now ZW$63,74: US$1.The Reserve Bank of Zimbabwe said $18,95 million bids had been receivedand $16,32 million […]
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ZTN Correspondent The Zimbabwe Government has suspended the stock exchange and mobile phone-based transactions “to deal with malpractices, criminality andeconomic sabotage”. In a statement on Friday, Secretary for Information Nick Mangwana said “impeccable intelligence” shows that mobile phone-based money service providers were colluding “in illicit activities that are sabotaging the economy”. He said the Zimbabwe […]
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Ndakaziva Majaka FUEL prices in Zimbabwe have surged by about 150 percent, effective June 24 following an earlier review of the country’s exchange rate. According to a schedule released by the Zimbabwe Energy Regulatory Authority (ZERA), petrol will now retail at ZW$71.62 up from an average of ZWL$28. In USD terms, a litre of petrol […]
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Ndakaziva Majaka The official Zimbabwe Dollar: US Dollar exchange rate is now $57.36 following operationalisation of the Southern African country’s Foreign Exchange Auction System on Tuesday. The exchange rate had remained at 1: 25 since March 2020 under Zimbabwe’s managed rate. The street rate stood at an average $77 by close of business on Tuesday.The […]
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ZTN Reporters THE Reserve Bank of Zimbabwe has announced that the Foreign Exchange Auction Trading System will be operational with effect from 23 June. The development will see a dual pricing system becoming operational with businesses now required to display prices of goods and services in both local and foreign currency at the ruling market […]
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Ndakaziva Majaka Zimbabwe’s Energy Minister Advocate Fortune Chasi has threatened to pull the plug on the firm running the country’s electricity payment platform. This follows transaction difficulties that domestic pre-paid power users are facing. The platform, contracted by the Zimbabwe Electricity Distribution Company, often stalls, resulting in customers failing to reload power. Advocate Chasi told […]
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Ndakaziva Majaka ZIMBABWE is planning to adopt a market-based foreign currency trading system after its fixed exchange rate system saw the domestic unit – whose official rate is 25 to 1 against the US dollar – lose considerable ground. Market watchers have long argued that a fixed rate leads to distortions. The Monetary Policy Committee […]
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Takudzwa Chihambakwe Civil servants are increasingly getting restless with their representative body, the Apex Council, calling on Government to consider paying salaries in United States Dollars. For some time now the civil servants have been pushing for their salaries to be pegged against the inter-bank rate. However, on Friday Apex Council secretary David Dzatsunga told […]
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