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*Captains Of Industry Say Manipulation Of Interbank Market Should End* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?ae Confederation of Zimbabwe Industries (CZI) president Sifelani Jabangwe has called for authorities to allow the interbank market to operate freely without manipulation. The interbank market was established by the Reserve Bank of Zimbabwe following the floating of the bond note which had been set at par with US dollar. ---------- Latest itel S24 available on Pindula: 128GB storage, 4GB RAM $119 USD WhatsApp: +263715068543 Calls: 0772464000 Buy Online: https://www.pindula.co.zw/market/itel-s24-128gb-22-20240426142756795795/?s=wanews ---------- While addressing business executives at the International Business Conference at the ZITF in Bulawayo on Wednesday, Jabangwe said: > Any further delays to allow markets to operate without interference will work against the good of the manufacturing sector and the economy at large. > We need to re-establish the equilibria among sectors similar to what prevailed before August 2018. Then with an effective interbank market, allow the country to grow. > … There are also concerns that the regulatory hand is determining the foreign currency exchange rate on the interbank platform, hence it’s not viewed as a rate determined by willing-buyer willing-seller trades. The interbank market allows businesses to get foreign currency at a willing buyer willing seller basis. However, the rate has continued to lag behind the parallel market and foreign currency has not been attainable for most businesses. Related: FULL THREAD: Why The InterBank Market is a Missed Opportunity Companies Struggling To Buy Forex At Official Rate – Mangudya New Monetary Policy Good, But Government Not Trusted Anymore: Business RTGS Dollar Weakens On Interbank Market Olivine Struggling To Access Forex On The Interbank Market More: Daily News _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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