Zimbabwe Monetary Policy Statement: 2009

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Zimbabwe Monetary Policy Statement: 2009

Find attached the link to the 2009 Zimbabwe Monetary Policy Statement as presented on 2 February 2009 by the Reserve Bank of Zimbabwe Governor, Dr G. Gono.

Salient statistics:

  • Local currency revalued with immediate effect, through the removal of 12 zeroes, accompanied by the introduction of the following new currency denominations: $500, $100, $50, $20, $10, $5 and $1;
  • Purchase of goods in foreign exchange vouchers introduced;
  • All corporates shall with immediate effect be allowed to pay salaries in foreign currency for their employees without prior Exchange Control approval;
  • FCA upfront sales to the Reserve Bank by exporters has been reduced from the current 15% of exports to 7,5%, with effect from 1 February, 2009;
  • All gold producers shall retain 92,5% of their sales in foreign exchange;
  • ZSE trading: A financial sector stability levy of 1.5% shall be payable to the Reserve Bank in foreign exchange; and each seller of shares in foreign exchange shall liquidate 3.5% of proceeds to the Reserve Bank at the going interbank exchange rate.

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2016-12-10T18:13:40+00:00 February 2nd, 2009|News|0 Comments

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