By Alois Vinga
THE global aid organisation, International Rescue Committee (IRC) has hailed the current stable exchange rates for preserving value to recipients of multi-purpose cash grant in Cyclone Idai hit areas.
A raft of measures implemented in 2020 by the Reserve Bank of Zimbabwe (RBZ) have seen the scrapping of mobile money agent lines, and the mopping of excess liquidity.
This has also been strengthened by RBZ’s launch of the foreign currency exchange auction system and a raft of measures, bringing sanity into the market.
Speaking during an interview on NewZim TV’s Economic Insights programme, IRC country director Zvidzai Maburutse said exchange rates stability had preserved the value of cash grants extended to vulnerable communities in Chimanimani district, Manicaland province.