The Sunday News
ABOUT US$645 million has been traded on the interbank market since the platform was established in February this year, Reserve Bank of Zimbabwe (RBZ) governor Dr John Mangudya has said.
“As at the end of June 2019, foreign exchange to the tune of US$644 million had been traded within the interbank forex market,” said Dr Mangudya while addressing a breakfast meeting in Harare yesterday.
“We are quite happy about that.
“Most of the money is utilised by the manufacturing sector and fuel because of the nature of their requirements. Of late, we have also seen a reduction in the trades on the parallel market with more people selling their foreign currency on the interbank market.
“This is (also) a reflection that we do receive a sizeable chunk of foreign currency from the diaspora.”
ALL SHARE
The All Share index closed the week on a lower note losing 0.54 points 0,28 percent to close at 189.98 points. Simbisa eased $0,0475 to end at $1,0501, Cassava Smartech retreated by $0,0460 to end at $1,6500 and First Mutual Holdings was $0,0195 weaker at $0,2205.
Econet also decreased by $0,0103 to $1,6195 and Proplastics was $0,0010 lower at $0,3800.
Losses were partially offset by gains in Old Mutual Limited which added $0,5824 to $15,4824, SeedCO rose by $0,0994 to $1,5994 and Powerspeed was $0,0600 stronger at $0,3600.
Delta recovered by $0,0075 to close at $3,5100 and Mashonaland Holdings traded $0,0074 firmer at $0,0480.
