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Zimbabwe’s central bank, the Reserve Bank of Zimbabwe (RBZ), has injected over US$50 million into the interbank foreign exchange market to stabilize the economy.
This move comes as the parallel market exchange rate is significantly higher than the official rate, causing economic instability.
The RBZ aims to increase foreign currency supply, reduce pressure on banks, and maintain currency stability through this intervention.
The central bank expressed its commitment to ensuring currency and exchange rate stability, reflecting the recently introduced local currency’s widespread acceptance and adoption in the market.
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