HARARE Zimbabwe's central bank governor on Monday said the exchange rate for the new transitional currency is unlikely to remain at 2.5 per U.S. dollar by the time tobacco auctions open next week, suggesting the local unit will be devalued further.
* Miners seek to hold on to dollar earnings for longer
(Adds details, background)
HARARE Zimbabwe's central bank has sold up to $20 million to banks for trading on a newly-launched forex interbank market, but the money could be exhausted by the end of next week due to high demand, banking sources said on Wednesday.
* Finance Minister says FX volatility must be avoided
(Recasts with central bank directive)
HARARE Zimbabwe's new currency will be backed up with fiscal discipline, Finance Minister Mthuli Ncube said on Monday, adding that the government would allow the RTGS dollar to fluctuate but would manage excessive volatility. | Video
HARARE Zimbabwe's decision to scrap a peg between its quasi-currency bond notes and the U.S. dollar brings a welcome end to a failing monetary policy, but it is not the solution to a deeper crisis, economists said on Thursday.
* Zimbabwe needs influx of forex to stabilise economy
HARARE, Feb 21 Zimbabwe's decision to scrap a
peg between its quasi-currency bond notes and the U.S. dollar
brings a welcome end to a failing monetary policy, but it is not
the solution to a deeper crisis, economists said on Thursday.
* Opposition says local currency introduced via back door
(Adds detail, opposition comment)
BATTLEFIELDS, Zimbabwe Zimbabwean rescuers pulled the bodies of at least 22 illegal gold miners out of shafts west of Harare that were flooded earlier in the week, and rescued eight more alive, officials and witnesses said on Saturday.