Foreign Exchange Rate Stable – Mhtuli Ncube

Finance and economic development minister, Mhtuli Ncube says he is happy that the exchange rate has now stabilized.

Speaking in senate yesterday, minister Ncube said the measures that the government imposed on the system helped to ease the situation.

“On the thresholds, we have been dealing with inflation, an exchange rate which has been moving upward but now I am pleased to see that the exchange rate is now stable.

“The measures included the introduction of the foreign currency auction system, dealing with errant mobile money companies, tightening things on the fiscal front, curtailing gross money supply and dealing with speculative behaviour on the Zimbabwe Stock Exchange.” He said.

Government through the RBZ last month banned the use of mobile money agents countrywide and Minister Ncube said he is pleased.

“The combination of all those measures which have been undertaken at the same time has produced a stable exchange rate. We are pleased with this,” he said.


Yeukai is a professional and experienced journalist, broadcaster & writer.

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