THE Confederation of Zimbabwe Retailers (CZR) continues pushing for full market liberalisation of the exchange rate system to guarantee complete price discovery and meet the sector’s foreign currency demands.
This comes as economic experts criticised the new delegated legislation, which compels businesses to use the exact average weighted exchange rate from the interbank forex market in their dealings.
The move ends a long-standing practice where businesses could apply a 10 percent margin above the official exchange rate to protect them from regular fluctuations in the local currency.
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Denford-Mutashu, Confederation of Zimbabwe Retailers president
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