Zimbabwe: Fuel Price Hike Looms As Mangudya Scraps 1 - 1 Exchange Rate for Oil Firms

Zimbabweans should brace for another hike in fuel prices as Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya Monday ordered a stop in the 1:1 exchange rate window government had extended to Oil Marketing Companies (OMC).

In a statement Monday, Mangudya ordered the use of the interbank market to promote the efficient use forex and to "minimise and guard against incidences of arbitrage" in the economy.

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