Zimbabweans start accessing foreign currency at official rate

By ZBC Reporter

Scores of people smiled all the way home after accessing 50 United States dollar notes from Bureaux de Change at the Reserve Bank of Zimbabwe official exchange rate this Wednesday.

The development comes after an announcement by the RBZ that Zimbabweans can now access up to 50 United States dollars a week through the Bureau de Change System.

The pronouncement by the Central Bank to allow individuals to access up to 50 US dollars every week at the official rate from Bureaux De Change has come to fruition, with the public accessing the funds this Wednesday.

I have received my 50us$ from this bureau de change at the official rate this is good news for us.Some people thought it was a joke but I got my 50US$. We hope this will go a long way towards eradicating the black market,said a beneficiary.

Economic commentator, Edward Chimedza and Chief Executive Officer at one Bureau De Change, Jimayi Muduvuri commended the timely intervention by RBZ to deal with runaway illegal market rates.

This move dovetails well into President Mnangagwa’s mantra of not leaving anyone behind. We want to applaud the RBZ for giving people real value for the money, said Chimedza.

It is high time people shun the black market because such a move to allows people to get the  US$ at  the official rate and  will give people confidence in their local money. We thank the RBZ we have started on a good note and expect to continue giving people good services under this initiative, noted Muduvuri.

The decision to allow individuals to buy foreign currency from bureuax de change at the official rate was made at the last meeting of the Reserve Bank of Zimbabwe’s monetary policy committee.

The move is meant to promote financial inclusion among ordinary people.

One only needs to have local currency in a bank account and an identification card to access the 50 US dollars per week, for a monthly limit of US$200.

The post Zimbabweans start accessing foreign currency at official rate appeared first on ZBC NEWS.

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