Zimbabwean business urges Central Bank to liberalise exchange control Zimbabwean business urges Central Bank to liberalise exchange control
The Confederation of Zimbabwe Industries insists exchange controls in the country “need to be liberalised as the gap between the official rate and the parallel market continues to widen creating undesirable arbitrage opportunities.”
Depending on the economic agent one is dealing with, parallel market exchange rates can be anything between $15 to $55 above the official exchange rate of $85 to US$1.
In its latest Quarterly Business and Economic Intelligence Report, CZI says delays to settle successful bids from the foreign currency auction system is damaging.
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