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The Zimbabwe School Examinations Council (ZIMSEC) has announced the interbank rate to be used by candidates when paying examination fees for the 2023 public examinations.
In a public notice, ZIMSEC also announced the deadlines for the payment of the fees. It said:
<blockquote>
[For] those who would like to make payments in the Interbank rate for Grade Seven, to be paid within the period of 3 March to 10 March 2023, the exchange rate to be applied for payments is $989 to US$1.
For June Ordinary and Advanced Level examinations, to be paid within the period 15 March 2023, the exchange rate to be applied for payments is $999 to US$1.
Payments for the examination fees should not be paid directly into ZIMSEC accounts.
Candidates/ Parents should make payments to the school or centre registration for forward remission to ZIMSEC.
</blockquote>
Ordinary Level candidates in public schools will pay US$11 per subject with Government subsidizing the cost by US$24.
Private candidates in public schools will pay US$24, the same as private schools’ candidates.
Advanced Level candidates in public schools are expected to pay US$22.
A’ Level private candidates in public schools and candidates in private schools will pay US$48.
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

Pindula News

ZIMSEC Announces Interbank Rate For Examination Fees

In the just-ended Press conference, the Finance Minister together with the RBZ governor released a statement that says they are putting a system in place that will allow foreign exchange to be traded freely amongst banks and permit a true market exchange rate to be determined.
Part of their statement reads:
<blockquote>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. This platform will allow foreign exchange to be traded freely amongst the banks and permit a true market exchange rate to be determined.
The Bureaux de Change, will also participate on this platform through their Authorised Dealers. The trading rules of the Bureaux de Change are being liberalised so that they can conduct all wider range of transactions.
The RBZ will continue to be a significant player in the market, providing liquidity to stabilise the exchange rate, where necessary. This mechanism will be immediately operational. All the foreign exchange requirements will be available through the interbank market which will use a market determined exchange rate.</blockquote>
Here is the full <a href="https://t792ae.c2.acecdn.net/wp-content/uploads/2020/03/PRESS-STATEMENT-FX.pdf-1.pdf">PRESS STATEMENT FX.pdf (1)</a>

RBZ To Set Up A Trading System That Will Permit A True Market Determined Exchange Rate

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya says US$45 million has been traded over the past three weeks of the interbank forex market. This is a 25% increase in the average weekly trades compared to last month.
Said Mangudya:
<blockquote>We have noticed a significant improvement since the launch of the interbank forex platform, with trades amounting to US$45 million over the past three weeks</blockquote>
Last month, the RBZ made the local currency legal tender and created an official foreign currency exchange market to enable companies to easily buy foreign currency from willing sellers.
More: <a href="https://www.newsday.co.zw/2019/03/us45m-traded-over-past-3-weeks-mangudya/">NewsDay</a>

US$45 Million Traded On Interbank Forex Market- Mangudya

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya on Thursday denied fixing the exchange rate of the RTGS dollar. Mangudya said this when he appeared before a parliamentary committee.
The value of the RTGS dollar which authorities said they would float, has held unchanged at 2.5 to the U.S. dollar since February 22.  Concerns Government is resisting moves to allow a further devaluation of the RTGS dollar has discouraged those holding U.S. dollars from selling them at the prevailing rate.
Ministry of finance secretary George Guvamatanga said the market will determine the devaluation of the RTGS dollar. He told the committee that volumes traded on the black market were thin and that if rates on the forex interbank market rose too high, very few businesses could afford to buy dollars.
More: <a href="https://af.reuters.com/article/investingNews/idAFKCN1QO0ZA-OZABS">Reuters</a>
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RBZ Denies Fixing RTGS Dollar Exchange Rate

The RTGS Dollars have officially been designated ZWL according to a directive issued on Monday. Below is a snapshot of today’s interbank market.

Interbank Rate Stood At US$1:2.5042 ZWL or RTGS Dollars On February 25, 2019

The RTGS Dollars have officially been designated ZWL according to a directive issued on Monday. Below is a snapshot of today’s interbank market.
<img alt="" class="alignnone wp-image-80043 size-full" decoding="async" height="563" loading="lazy" sizes="(max-width: 654px) 100vw, 654px" src="https://t792ae.c2.acecdn.net/wp-content/uploads/2019/02/Interbank-Rate-25-02-19.png" srcset="https://news.pindula.co.zw/wp-content/uploads/2019/02/Interbank-Rate-25-02-19.png 654w, https://news.pindula.co.zw/wp-content/uploads/2019/02/Interbank-Rate-25-02-19-300x258.png 300w, https://news.pindula.co.zw/wp-content/uploads/2019/02/Interbank-Rate-25-02-19-600x517.png 600w" width="654"/>

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