RBZ dismisses devaluation of currency claims

By ZBC Reporter
THE Central Bank has dismissed claims that the local currency has been devalued. In a statement, the Reserve bank of Zimbabwe is advising the public to disregard a false and mischievous article circulating on social media suggesting that the bank has devalued the local currency.
Social media was this Thursday rife with speculation on the devaluation of the local currency.
However, RBZ Governor Dr John Mangudya said the intention of such disinformation is to cause panic and despondency and destabilise the country’s foreign exchange markets through manipulation of the exchange rate.
Dr Mangudya said the bank is enhancing the foreign exchange trading system to ensure efficiency and effectiveness in the allocation of foreign exchange to the productive sectors and enhancing price discovery on the interbank market.