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RBZ shuts down Market Watch & other black market exchange rate sites

John Mangudya, Reserve Bank of Zimbabwe, RBZ, Monetary Policy Statement, Market Watch, Fintech regulatory Sandbox RBZ, Monetary Policy Statement MPC

The government/RBZ has shut down the black market rate tracking site Market Watch. If you go to Marketwatch now you’ll see that website is no longer in-service error.

Market Watch

According to a report by Bloomberg, the Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya said in an interview that all black market rate tracking sites were ordered shut down.

“It’s cybercrime, how is the rate determined on the computer? It’s based on nothing but hot air.”

Governor John Mangudya

I don’t know about the cybercrime part but tracking the rate isn’t the issue. The information that sites like Market Watch get is most probably from collecting reports and hearsay from the streets. This is yet another example of the Reserve Bank of Zimbabwe and the government as a whole flexing their muscles in the wrong direction.

Shutting down rate tracking sites isn’t going to magically make the black market rate slow down or even disappear… But it appears as though it’s easier to waste time with shutting down websites than addressing the deep structural issues plaguing the economy…

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11 thoughts on “RBZ shuts down Market Watch & other black market exchange rate sites

    1. Kkkk. Next thing you know, they’ll shut down Facebook, Twitter, Whatsapp and even TechZim. I really won’t be surprised if they take that course of action.

      1. Please don’t give them any ideas! They’ve tried it once and it caused complete chaos for everyone! They’re already grabbing at straws, trying to snuff out the truth, as well as alternative views. They also don’t have a clue as to how to put things right and never will

  1. hey mangudya, your rbz rate is based on nothing but manipulation !! go suck on that you clown boy !!

  2. If it will bring calm to the market , but l see it ending in tears .How does the rbz rate remain stable after the close of tobacco selling season ,no exports finance production .The price of bread will tell you were the rate is

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