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*RBZ Introduces New Timelines For Submission Of Forex Bids* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?cj Reserve Bank of Zimbabwe Governor John Mangudya has directed that all bids for forex have to be submitted through bidders’ bankers four days before the date of the auction. In a statement, Mangudya said this is being done to give banks ample time to carry out the necessary due diligence processes and assess their customers’ bids as the number of bids being submitted every week now averages 2 000. The statement read: ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- *SUBMISSION OF BIDS UNDER THE FOREIGN EXCHANGE AUCTION SYSTEM* > The Bank wishes to advise the public that, with immediate effect, all bids for foreign exchange shall be submitted through bidders’ respective bankers at least four (4) business days before the date of the auction. > The bankers shall in turn submit the bids to the Bank, the auction administrator, at least three (3) business days before the date of the auction. > There has been a significant increase in the number of bids being submitted through the auction system, averaging 2 000 per week, and thus the change in bid submission timelines will give banks ample time to carry out the necessary due diligence processes and assess their customers’ bids. > Any bid submitted later than the set time frame shall be disqualified. *More: Pindula News* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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