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ZW$ Has Not Been Devalued – RBZ

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John Mangudya (RBZ Governor)

RBZ has denounced claims circulating on social media suggesting that the central bank has devalued the local currency.

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In a Twitter post, the bank has said such disinformation is a tactic to cause panic:

The Bank would like to advise the public to disregard, with the contempt it deserves, the false and mischevious article circulating on social media suggesting that the Bank has devalued the local currency. The intention of such disinformation is to cause panic and despodency and ultimately destablize the country’s foreign exchange market manipulation of exchange rate.

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We wish to advise the public that, consistent with the Monetary Policy announcment on 19 November 2019, the Bank is enhancing the Reuters monetary exchange trading system to ensure efficiency and effectiveness in the allocation of foreign exchange to the productive sectors and enhancing price discovery on the interbank market. Already, engagements have been done with Commercial banks to ensure smooth implementation of this system. Banks are working on a user-test environment to enhance the efficiency of this foreign exchange trading system.

John Mangudya

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3 thoughts on “ZW$ Has Not Been Devalued – RBZ

  1. RBZ is a wing of Zanu-PF,they are corrupt. They may say pple to ignore social yet in a few days they will indeed confirm the ZWD has indeed been devalued. People Stay alert as these Hyenas are always attacking unaware citizens.

  2. Same old game.
    One of them leaks “confidential infor ” onto social media before it’s officially announced.

    It’s vehemently denounced the next day, just to be implemented on day 5 post leak.

    Too late Mr Mangundla the bullet is out of the barrel, you can’t catch it back. Us the citizens are already on high alert and doing whatever we feel will cushion us

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