Liberalisation of the foreign currency market way to go
Christine Lethokuhle Mabhena
The latest move by the Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya to liberalise the fuel procurement market and let the purchasing of fuel by the Oil Marketing Companies (OMCs) to be done through the interbank foreign exchange market on a willing seller and willing buyer basis is a major boost to the economy as it will go a long way in addressing rampant incidences of arbitrage associated with the 1:1 exchange rate previously offered by the central bank.