Zimbabwe introduces Reuters system for forex trading. GOVERNMENT has introduced a Reuters system for foreign currency trading which allows banks to trade freely as a way of stabilising the exchange rate as well as bringing down inflation to sustainable levels. This was announced by the Minister of Finance and Economic Development, Professor Mthuli “Zimbabwe has had no transparent and effective foreign exchange trading platform for a long time. Consequently, official rates have not been effectively determined, while a thriving parallel market has developed. To correct this anomaly, an electronic forex trading platform based on the Reuters system is being immediately put in place 11/03/ · Zimbabwe introduces Reuters system for forex trading Published: 11 March GOVERNMENT has introduced a Reuters system for foreign currency trading which allows banks to trade freely as a way of stabilising the exchange rate as well as bringing down inflation to
Zimbabwe introduces Reuters system for forex trading
This was announced by the Minister of Finance and Economic Development, Professor Mthuli Ncube during a news briefing in Harare for the introduction of the currency stabilisation task force. In this regard, the government is taking measures to stabilise the exchange rate and to bring down inflation to sustainable levels in order to achieve macroeconomic stability. In order to stabilise the exchange rate and hence, lower inflation, the government has decided to implement a holistic package of key policy measures.
The floating exchange rate system will be introduced with the participation of financial institutions and bureaux de change. Consequently, official rates have not been effectively determined, while a thriving parallel market has developed. To correct this anomaly, an electronic forex trading platform based on the Reuters system is being immediately put in place. This platform will allow foreign exchange to be traded freely amongst banks and permit a true market exchange rate to be determined.
The bureau de change will also participate on this platform through their authorised dealers. In the floating system, the Reserve Bank of Zimbabwe will remain a significant player reuters forex trading platform zimbabwe the market through the provision of liquidity to stabilise the exchange rate while also tightening its screws on mobile money platforms. The currency stabilisation task force will be spearheaded by the Ministry of Finance and Economic Development and the Reserve Bank of Zimbabwe and will include members of the Monetary Policy Committee and the Presidential advisory council, reuters forex trading platform zimbabwe.
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, time: 55:23What Will The New Reuters-Based Interbank Platform Do Differently? - Techzim
11/03/ · Zimbabwe introduces Reuters system for forex trading Published: 11 March GOVERNMENT has introduced a Reuters system for foreign currency trading which allows banks to trade freely as a way of stabilising the exchange rate as well as bringing down inflation to 11/03/ · Zimbabwe has had no transparent and effective foreign exchange trading platform for a long time. Consequently, official rates have not been effectively determined, while HARARE (Reuters) - Zimbabwe’s central bank has sold up to $20 million to banks for trading on a newly-launched forex interbank market, but the money could be exhausted by the end of next week
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