{"id":20542,"date":"2020-03-11T21:04:50","date_gmt":"2020-03-11T19:04:50","guid":{"rendered":"https:\/\/www.africa-press.com\/zimbabwe\/?p=20542"},"modified":"2020-03-11T21:04:50","modified_gmt":"2020-03-11T19:04:50","slug":"mthuli-ncube-sets-up-foreign-currency-taskforce-to-manage-exchange-rate","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/mthuli-ncube-sets-up-foreign-currency-taskforce-to-manage-exchange-rate","title":{"rendered":"Mthuli Ncube Sets Up Foreign Currency Taskforce To Manage Exchange Rate"},"content":{"rendered":"<p>FINANCE Minister, Mthuli Ncube Wednesday announced he was setting up a Currency Stabilisation Taskforce to manage the continuous foreign currency exchange rate hikes which he blamed for destabilising the country\u2019s economy.<\/p>\n<p>The announcement comes when the parallel market exchange rate rose Wednesday to $40 against the US$1 forcing prices of basic commodities to increase and eroding workers\u2019 salaries.<\/p>\n<p>Speaking at a press conference at the Reserve Bank of Zimbabwe (RBZ), Ncube said the task force\u2019s aim was to achieve stability and lower the rate of inflation.<\/p>\n<p>\u201cIn this regard, a Currency Stabilisation Task Force has been set up. This will be spearheaded by the Finance Ministry and the Reserve Bank of Zimbabwe, and will include members of the Monetary Policy Committee and the Presidential Advisory Council,\u201d he said.<\/p>\n<p>\u201cZimbabwe 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.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FINANCE Minister, Mthuli Ncube Wednesday announced he was setting up a Currency Stabilisation Taskforce to manage the continuous foreign currency exchange rate hikes which he blamed for destabilising the country\u2019s economy. The announcement comes when the parallel market exchange rate rose Wednesday to $40 against the US$1 forcing prices of basic commodities to increase and [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":15327,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[894,807],"class_list":{"0":"post-20542","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-foreign-currency","10":"tag-mthuli-ncube"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mthuli Ncube Sets Up Foreign Currency Taskforce To Manage Exchange Rate - zimbabwe<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncube-sets-up-foreign-currency-taskforce-to-manage-exchange-rate\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mthuli Ncube Sets Up Foreign Currency Taskforce To Manage Exchange Rate\" \/>\n<meta property=\"og:description\" content=\"FINANCE Minister, Mthuli Ncube Wednesday announced he was setting up a Currency Stabilisation Taskforce to manage the continuous foreign currency exchange rate hikes which he blamed for destabilising the country\u2019s economy. 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