“Zimbabwe has had no transparent and effective foreign exchange trading platform for a long time. Consequently, official rates have not been effectively determined, while a thriving parallel market has developed. To correct this anomaly, an electronic forex trading platform based on the Reuters system is being immediately put in place Forex Trading in Zimbabwe – The Basics. Here are the basics you need to know in relation to Forex trading in Zimbabwe. The economic upheavals happening in Zimbabwe should not dishearten the people. More than ever, unity among the citizens and support Forex is a shortened term used for "FOReign EXchange" (commonly known as FX), it is typically used to describe the process of buying and selling currencies. Forex is a global market for the trading of currencies, it is the largest market in the world, opened 24 hours a
Zimbabwe sold up to $20 million to banks for trade on new forex platform: sources | Reuters
This was announced by the Minister of Finance and Economic Development, Professor Mthuli Ncube during a news briefing in Harare for the introduction of the currency stabilisation task force. In this regard, the reuters forex trading platform zimbabwe is taking measures to stabilise the exchange rate and to bring down inflation to sustainable levels in order to achieve macroeconomic stability.
In order to stabilise the exchange rate and hence, lower inflation, the government has decided to implement a holistic package of key policy measures. The floating exchange rate system will be introduced with the participation of financial institutions and bureaux de change. Consequently, official rates have not been effectively determined, while a thriving parallel market has developed.
To correct this anomaly, an electronic forex trading platform based on the Reuters system is being immediately put in place. This platform will allow foreign exchange to be traded freely amongst banks and permit a true market exchange rate to be determined. The bureau de change will also participate on reuters forex trading platform zimbabwe platform through their authorised dealers.
In the floating system, the Reserve Bank of Zimbabwe will remain a significant player in the market through the provision of liquidity to stabilise the exchange rate while also reuters forex trading platform zimbabwe its screws on mobile money platforms. The currency stabilisation task force will be spearheaded by the Ministry of Finance and Economic Development and the Reserve Bank of Zimbabwe and will include members of the Monetary Policy Committee and the Presidential advisory council.
Skip to content Business Featured Top Stories, reuters forex trading platform zimbabwe. Margaret Matibiri, reuters forex trading platform zimbabwe. No Comments. Share this: Twitter Facebook. Like this: Like Loading Rare white giraffes killed by poachers in Kenya: conservationists.
Premier League suffers first postponement as Arsenal players quarantined. Related Posts. Agriculture Business Featured. AFC heralds new chapter in the land reform programme 3 hours ago. Yvonne Mkondani. TIMB CEO pledges massive funding transformation 6 hours ago. Business International. Amazon hopes pandemic habits stick after profits triple 9 hours ago. Featured Local News. Gvt Employees Loan Facility ready 14 hours ago. You may have missed AFC heralds new chapter in the land reform programme.
TIMB CEO pledges massive funding transformation. Gvt Employees Loan Facility ready.
Zimbabwe Foreign Currency Trading - haku Explains
, time: 1:59FX trading platforms | Refinitiv
Fast-moving and ever-changing: welcome to the world of the Forex trading in Zimbabwe! An In-Depth Look at What the Forex Market Is, Its Importance, and How to Get Involved in It. As of April , the Forex market trades more than $5 trillion daily, a number that hasn’t seen a GOVERNMENT has introduced a Reuters system for foreign currency trading which allows banks to trade freely as a way of stabilising the exchange rate as well as Bulawayo24 NEWS News Forex is a shortened term used for "FOReign EXchange" (commonly known as FX), it is typically used to describe the process of buying and selling currencies. Forex is a global market for the trading of currencies, it is the largest market in the world, opened 24 hours a
No comments:
Post a Comment