“Zimbabwe has had no transparent and effective foreign exchange trading platform for a long time. Consequently, official rates have not been effectively determined, while a thriving parallel market has developed. To correct this anomaly, an electronic forex trading platform based on the Reuters system is being immediately put in place “Zimbabwe has had no transparent and effective foreign exchange trading platform for a long time. Consequently, official rates have not been effectively determined, while a thriving parallel market HARARE (Reuters) - Zimbabwe’s central bank has sold up to $20 million to banks for trading on a newly-launched forex interbank market, but the money could be exhausted by the end of next week
Zimbabwe sold up to $20 million to banks for trade on new forex platform: sources | Reuters
By Nelson Banya. The country, which has seen bouts of hyperinflation sincehas taken steps to ease its heavy reliance on the U.
dollar, part of a raft of economic reforms by President Emmerson Mnangagwa, who replaced longtime leader Robert Mugabe after an army coup in The central bank has controlled the interbank forex trading market, which was introduced in February The latest move will see banks take a bigger role in foreign currency trades, narrowing the gap with the unofficial market by allowing trade on a more transparent platform.
On Wednesday, the Zimabwe dollar was trading at dollar on the official interbank market and at around 40 to the greenback on the black market. He said an electronic forex reuters forex trading platform zimbabwe platform was being put in place immediately.
In a managed float, you need reserves to intervene in the market. The government does not have that. Economic commentator Brains Muchemwa said the latest policy might not succeed in stabilising the exchange rate if the government did not maintain fiscal discipline. Ncube insisted that the government had managed to control its spending and had a fiscal surplus of 3, reuters forex trading platform zimbabwe.
Reporting by Nelson Banya; Writing by Mfuneko Toyana; Editing by John Stonestreet and Nick Macfie, reuters forex trading platform zimbabwe. Our Standards: The Thomson Reuters Trust Principles. Financials Updated. By Nelson Banya 4 Min Read. for-phone-only for-tablet-portrait-up for-tablet-landscape-up for-desktop-up for-wide-desktop-up.
How to withdraw forex trading profits money to Zimbabwe bank account
, time: 7:32Review of Thomson Reuter's New Platform for Retail Traders - MetaStock XENITH | Finance Magnates
Fast-moving and ever-changing: welcome to the world of the Forex trading in Zimbabwe! An In-Depth Look at What the Forex Market Is, Its Importance, and How to Get Involved in It. As of April , the Forex market trades more than $5 trillion daily, a number that hasn’t seen a 11/9/ · Therefore, although traders can use the system to scan the markets and find opportunities, a separate trading platform for executing trades is needed. According to Derek McKusick, Business Development at Thomson Reuters, integrating trading capabilities via their partnering brokers is an area they are working on, but they have no definitive blogger.com: Ron Finberg Zimbabwe introduces Reuters system for forex trading. GOVERNMENT has introduced a Reuters system for foreign currency trading which allows banks to trade freely as a way of stabilising the exchange rate as well as bringing down inflation to sustainable levels. This was announced by the Minister of Finance and Economic Development, Professor Mthuli
No comments:
Post a Comment