The post Zimbabwe’s RBZ Injects $50M Forex Market to Stabilize Currency appeared on BitcoinEthereumNews.com.

Zimbabwe’s central bank, the Reserve Bank of Zimbabwe (RBZ), has injected over US$50 million into the interbank foreign exchange market to stabilize the economy.  This move comes as the parallel market exchange rate is significantly higher than the official rate, causing economic instability.  The RBZ aims to increase foreign currency supply, reduce pressure on banks, and maintain currency stability through this intervention.  The central bank expressed its commitment to ensuring currency and exchange rate stability, reflecting the recently introduced local currency’s widespread acceptance and adoption in the market. Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions. Source: https://bitcoinworld.co.in/zimbabwes-rbz-injects-50m-in-forex-market-to-stabilize-currency/

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Filed under: News - @ July 28, 2024 4:10 am