Driving up the rates
October 8th, 2007
The Reserve Bank and ZESA are abetting the rocketing rates as they are on a major onslaught to buy all forex available on the street. Last week Reserve Bank sent several employees to Bulawayo (they stayed at Holiday Inn) with bundles of cash to buy street forex through dealers.
Both the Reserve Bank and ZESA are soaking up foreign currency, especially large volumes of US$.
