Zimbabwe Dollar Falling Once More, Mangudya Says Nothing To Worry About
1 year agoFri, 15 Sep 2023 15:54:05 GMT
Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya, has assured Zimbabweans that there is nothing to worry about, despite the value of the Zimbabwean dollar declining once more.
Both the official rate and the street rate have been comparatively stable in August but this week, the local unit fell to ZWL$4 712.16: US$1 from ZWL$4 604.62: US$1 three weeks ago.
Business Times quoted Mangudya as saying the central bank is in control of the situation. He said:
There’s nothing to worry about as the exchange rate remains relatively stable. I think Zimbabweans need prayers as they start panicking with something that is within reach. We have tools to ensure there is no excess liquidity in the market.
The central bank remains confident that the continued sale of gold coins and gold-backed digital tokens will sustainably take away steam from the store-of-value demand for local currency during the short to medium term, with positive spinoffs on the substance of obtaining price and exchange rate stability.
Furthermore, the central bank’s strategic resolve for continued monetary prudence will add further impetus to the positive prospects of the local currency over the medium term.
In addition, the ongoing monitoring and surveillance by the Financial Intelligence Unit will effectively minimise incidences of exchange rate manipulation and abnormal pricing practices.
Meanwhile, Finance and Investment Promotion Minister Mthuli Ncube said that it is baffling that a foreign currency parallel market still exists in Zimbabwe.
Ncube said the parallel market “shouldn’t even exist” as “every piece of policy that is necessary for a stable currency has been put in place”.
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41 Comments
Anonymous · 1 year ago
Anonymous · 1 year ago
Mangudya is absolutely correct by not worrying because of the ZWL currency.. because himself transact in USD..
Anonymous · 1 year ago
Yes... Mangudya has nothing to worry about because his currency of trade is USD...
Taneta · 1 year ago
ko chii chakamboitika kuti exchange rate isvike kwese ikoko zvinoratidza kuti mangudya wakundikana you must resign
Anonymous · 1 year ago
they are the guys who are fuelling the exchange rate. the RBZ is releasing rtgs money to the black market through their agents . mtuli is a professor of ignorance not economics and mangudya is his mascot
Zuze (OG) · 1 year ago
Zuze and Bvepfepfe have been targeted for trolling. Regai tione kuti can the ZANU trolls debate and articulate issues as their subjects. apart from mouthing purported ship-jumping.
It's easy to say I have moved to The Old People's Home. But providing the why? and extolling the virtues of the Old People's Home are a different kettle of fish altogether.
Chovha George!
Paddy · 1 year ago
"There is nothing to worry about" says Mangudya, what he chooses to ignore is that there is general mistrust of the system which creates worry and worry is the basis of volatility
ini wacho · 1 year ago
zuze go to heir
The way it is · 1 year ago
Munangagwa not Mnangarwa
Zuze · 1 year ago
Mnangarwa is wiser than Chamisa. That's why I have decided to join Zanu Pf. Good bye CCC.
dakar · 1 year ago
haaa pamwe pachona varume musade kungoitira vanhu hutsinye muchitipa zvima false promises ,nekuti imim hamutambire maZim dollars and hamutomashandise kudzimba dzenyu ,isus tisu vamunotoona kunge tisiri vanhu manje imim ndimi muri vanhu mega munogona kushandisa mari chaidzo maUSD nemhuri dzenyu,nenyeya yekuti ure the ones in power but musadaro varume tese titori vanhu totodawo mari inotenga ,,,,,imbomirai kutimisa tipei mari dzinoshanda kwese even kunze uko ,unoenda kupi nayo mari iyoyo,,,,,
CHAWABVUNZA · 1 year ago
ZImbabweans must not be surprised by the free fall of the ZImbabwe Dollar against the United States Dollar because the rise of ZImbabwe Dollar before Elections was fake which economic commentators prewarmed the general public about. The interpretation is that ZImbabwe has a cheating Finance Minister !!!!! He cheated the general public into believing that the rise of ZImbabwe Dollar was genuine.
This is my story and I am sticking to it.
[ THE BUSH LAWYER4CCC ].
Zuze · 1 year ago
I Zuze officially resign in supporting fake opposition parties who's leadership is clueless and consistently feeding us lies. I now return humbly with my tail bent between my legs and seek forgiveness to the mighty ruling ZANU PF. I urge my fellow lost souls to follow suit.
Tk · 1 year ago
Just imagine Zimba Isina opposition....
Zuze (OG) · 1 year ago
Pindula commenting isbn no means an OFFICIAL job.
It is a hobby.
So I can't post an 'official' letter of resignation for a hobby, on a voluntary site, from a voluntary political office.
Führer · 1 year ago
where is Twitter president where is vp Twitter president🤣🤣🤣
Tk · 1 year ago
Fokol
Yoyoyo · 1 year ago
😁😁 Hayas kana kune rinonzi Zidhooodhiii remunhu ndi John Panonetsa Mangundya 💩💩💩
RBZ looter · 1 year ago
saka iwewe Uri chii nhaiwe wepasi
· 1 year ago
Please loot quietly and avoid pointing oone finger at others, because 3 are pointing back at you.
eh ah um ok · 1 year ago
2 baffled b u f f o o n s here , kkk dum gudya and tooly cube , both baffled kkk
abc · 1 year ago
their policies promotes hoarding of the USD ,the banking system is dead ,no economy can function with out the banking system,they have to rebuilt the banking system and regain trust with the people .or else there are dreaming.
Anonymous · 1 year ago
You are correct...there is no economy which can function properly without banking system and stable local currency
Greatworld · 1 year ago
there is more to worry about. ma Shefu are not using this currency instead they only use USD. Truly speaking it is useless
abc · 1 year ago
we have every thing to worry about cause you are forcing the zim dollar to work yet you really know that its inflationary, it is not constant & it has been rejected in the system .the currency is not recognized at the international exchange rate so the zim dollar must be for change to the dollar for now .
Wuto · 1 year ago
Military 🎖️🎖️🎖️🎖️ 🪖🪖
Zuze · 1 year ago
Command Economics doesn't work;
Ginyanomics, aaaaaghhhhhhh even worse.
You can rig elections alright. but you can't rig the economy.
Chovha George...
🏃♀️ Chi baby che ZANU 🌊 · 1 year ago
Rambai makadzvanya ma cde. You're doing your best. Swimming against the tide. These economic saboteurs are engineering an economic meltdown but muri kuita basa. You're our heroes
Yoyoyo · 1 year ago
😁😁 Yah zvakubata bata, unoratidza kuti wiwi unoyida iwe, chinenge chitori chikokomborero kuti unwe weti yaED coz the way u defend him. Lol unotoigwadamira blâmbi ya ED achiku diridzira wiwi pamhanza 🤣🤣🤣🤔
Zuze · 1 year ago
@@chiBaby, correct your last word.
Replace the first "e" with "u" and delete the "o". Then you have got it right
xyz · 1 year ago
the most sought for currency in southern africa,bandri tione kugehena hakusi kure.
Anonymous · 1 year ago
But vaMangudya, our zw is steadily loosing value. Yes you may say it is within reach but step by step, our currency is losing value such that by end of year with this rate, it will clock 6k official rate. Ok, have checked and see why it is steadly losing value. Is your FIU on the ground to see the causes because obviously black market will also follow suit and we are back to that prizing mayhem. We will rather be happy if it was strengthening by a few cents than what is happening losing value by an average of 60 rtgs to 100 rtgs. It is inffect frightening Mr Mangudya. Do something with your FIU before it is too late.
1
Zuze · 1 year ago
You are expecting too much from the other Baffled Buffoon
T@mbawoga · 1 year ago
So far so good as we are sailing in one ship so let it be
Zuze · 1 year ago
Sailing in a sinking ship, with a drunken Captain?
Musavengana · 1 year ago
Every peice of policy has been put in place to control exchange rate that its baffling to see parallel market. Mr Minister 81% of zimbabwe transactions are done in usd, hence those who earn rtgs they go to parallel market to get usd. Gvt is paying its suppliers in rtgs and that money finds its way to parallel market. Health insurance pay doctors in rtgs since their contributions are received the same from big corporations and government and that money find its way to parallel market. This does not need a professor level research to know but a money changer academy at Estgate Harare, sipatelini bulawayo.
