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Exports, forex reserves impressive: RBZ
Senior Business Reporter
THE exponential rise in foreign currency account (FCA) holdings to US$1,1 billion and strong export performance this year are evidence that the economy is now on sound footing for sustained recovery and growth.
This was said by Reserve Bank of Zimbabwe (RBZ) governor Dr John Mangudya in an interview yesterday, pointing out that forex receipts went up by 18,2 percent to US$5,8 billion in the 12 months to November 2020.
Dr Mangudya attributed the significant growth in foreign currency nostro balances to improvement in exports, increase in Diaspora inflows and a better business operating environment.