Breaking News! Today the Reserve Bank of Zimbabwe tweeted the below statement
It has come to the attention of the Bank that there are some exchange rate manipulators that are exerting pressure on the forex market with the intention of destabilizing the stability that the country has been experiencing over the past four months.
Such malpractice is not warranted as money supply has remained under control for the past five months. The matter has been escalated to the Financial Intelligence Unit that is proceeding to investigate and freeze the accounts of those upsetting the market.
The black market exchange rate had stabilised between 1:20 and 1:23.5 since October 2019. Beginning of this week (Monday) the black market rate opened at 1:23.5, and it started rising daily, up to 1:26 as of today (Friday) afternoon. Meanwhile the official interbank rate is at 1 USD = 16.76 ZWL.
