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ZIMBABWE has received about $3 billion foreign currency inflows in the first half of the year and stands a chance to generate more through increased exports.
Reserve Bank Governor, Dr John Mangudya, revealed this here yesterday while addressing captains of industry and potential investors at the on-going Confederation of Zimbabwe Industries (CZI) Congress and International Investment Forum.
He said diaspora remittances and other foreign revenue streams were greatly assisting in stabilising the economy. Dr Mangudya also reported that the interbank foreign exchange market was now trading about $2 million per day, which is an increase from $500 000 that was being traded earlier. The formal forex trading market was introduced in February this year and recently struck equilibrium with parallel market rates.
ALL SHARE
The All Share index retreated by 0.47 points 0,25 percent to close at 190.50 points. Cassava Smartech Zimbabwe Limited lost $0,0336 ending at $1,6043, OK Zimbabwe Limited retreated by $0,0076 to close at $0,4219 and Simbisa Brands Limited traded $0,0025 lower at $1,0375. Padenga Holdings Limited also decreased by $0,0025 to end at $1,8975 and SeedCo International Limited lost $0,0003 ending at $2,1222.
The losses were offset by gains in Meikles Limited which advanced by $0,0500 to $1,3000, Old Mutual Limited added $0,0158 to close at $16,0658 and Econet Wireless Zimbabwe Limited was $0,0141 higher at $1,6964. Bindura gained $0,0025 to settle at $0,1025 and PPC Limited traded $0,0024 higher at $1,9500.
derick.khumalo