By Alois Vinga
LISTED financial services concern, ZB Financial Holdings (ZBFH) has hailed measures implemented by the Reserve Bank of Zimbabwe (RBZ) allowing bureau de changes to sell foreign currency.
The financial institution said the move will close the gap between official and parallel market rates.
Presenting the ZBFH trading update for the first quarter ended March 31, 2021, company secretary Tinashe Masiiwa applauded the RBZ for taking measures that will go a long way in harmonizing the two exchange rates.
“In what is expected to become a boost to the market, RBZ undertook to sell foreign currency to bureau de changes, in order to improve the availability of currency to small-scale players and individuals. This has the potential of shedding off the exchange rate differential between the official and parallel markets which is currently at about 40%,” he said.