{"id":83220,"date":"2023-09-16T11:07:48","date_gmt":"2023-09-16T09:07:48","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-dollar-falling-once-more-mangudya-says-nothing-to-worry-about"},"modified":"2023-09-16T14:32:11","modified_gmt":"2023-09-16T12:32:11","slug":"zimbabwe-dollar-falling-once-more-mangudya-says-nothing-to-worry-about","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/zimbabwe-dollar-falling-once-more-mangudya-says-nothing-to-worry-about","title":{"rendered":"Zimbabwe Dollar Falling Once More, Mangudya Says Nothing To Worry About"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya, has assured Zimbabweans that there is nothing to worry about, despite the value of the Zimbabwean dollar declining once more.<\/p>\n

Both the official rate and the street rate have been comparatively stable in August but this week, the local unit fell to ZWL$4 712.16: US$1 from ZWL$4 604.62: US$1 three weeks ago.<\/p>\n

Business Times quoted Mangudya as saying the central bank is in control of the situation. He said:<\/p>\n

There\u2019s nothing to worry about as the exchange rate remains relatively stable. I think Zimbabweans need prayers as they start panicking with something that is within reach. We have tools to ensure there is no excess liquidity in the market.<\/p>\n

The central bank remains confident that the continued sale of gold coins and gold-backed digital tokens will sustainably take away steam from the store-of-value demand for local currency during the short to medium term, with positive spinoffs on the substance of obtaining price and exchange rate stability.<\/p>\n

Furthermore, the central bank\u2019s strategic resolve for continued monetary prudence will add further impetus to the positive prospects of the local currency over the medium term.<\/p>\n

In addition, the ongoing monitoring and surveillance by the Financial Intelligence Unit will effectively minimise incidences of exchange rate manipulation and abnormal pricing practices.<\/p>\n

Meanwhile, Finance and Investment Promotion Minister Mthuli Ncube said that it is baffling that a foreign currency parallel market still exists in Zimbabwe.<\/p>\n

Ncube said the parallel market \u201cshouldn\u2019t even exist\u201d as \u201cevery piece of policy that is necessary for a stable currency has been put in place\u201d.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya, has assured Zimbabweans that there is nothing to worry about, despite the value of the Zimbabwean dollar declining once more. Both the official rate and the street rate have been comparatively stable in August but this week, the local unit fell to ZWL$4 712.16: […]<\/p>\n","protected":false},"author":84,"featured_media":83218,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[1493,2189,1944,187,2062,9788,15179,19,968],"class_list":{"0":"post-83220","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-africa-press","10":"tag-africa-press-zimbabwe-2","11":"tag-exchange-rates","12":"tag-forex","13":"tag-john-mangudya","14":"tag-parallel-market","15":"tag-street-rate","16":"tag-zimbabwe","17":"tag-zimbabwe-dollar"},"yoast_head":"\nZimbabwe Dollar Falling Once More, Mangudya Says Nothing To Worry About - zimbabwe<\/title>\n<meta name=\"description\" content=\"Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya, has assured Zimbabweans that there is nothing to worry about, des ...\" \/>\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\/zimbabwe-dollar-falling-once-more-mangudya-says-nothing-to-worry-about\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zimbabwe Dollar Falling Once More, Mangudya Says Nothing To Worry About\" \/>\n<meta property=\"og:description\" content=\"Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya, has assured Zimbabweans that there is nothing to worry about, des ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-dollar-falling-once-more-mangudya-says-nothing-to-worry-about\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-16T09:07:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-16T12:32:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/09\/sm_1694851143.739275.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-dollar-falling-once-more-mangudya-says-nothing-to-worry-about\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-dollar-falling-once-more-mangudya-says-nothing-to-worry-about\",\"name\":\"Zimbabwe Dollar Falling Once More, Mangudya Says Nothing To Worry About - 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