Farai Mabeza, Senior Staff Writer 
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THE Reserve Bank of Zimbabwe (RBZ) says foreign currency-denominated loans constituted 94 percent of local banks’ aggregate lending as at June 30, 2023.
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This reflects the apex bank’s deliberate squeeze on Zimdollar liquidity, which was meant to curb currency volatility and has been accomplished through high interest rates, open-market operations, as well as relatively higher statutory reserves.
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