Zimbabwe: Arbitrage Practises Emerge in Zimbabwe (Part1)

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TOWARDS the end of 2016 the Reserve Bank of Zimbabwe under the oversight of governor John Mangudya adopted a raft of measures to tackle the liquidity problems that were bedevilling the banking sector.

The measures include limiting cash withdrawals, forcing the immediate conversion of United States dollar deposit balances into rand and euro for exporters, restricting international settlements to the currency of the destination country, limiting the amount of cash passing through the country's exit ports and imposing a priority list on foreign currency uses by vetting at the central bank among others.

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