Central Banking

Zimbabwe halts e-transfers, inflation at 531 bn%

The Reserve Bank of Zimbabwe on Friday halted electronic transfers as the currency plunged to a fresh low. News of the stoppage follows a new estimate puts Zimbabwean annual inflation at 531 billion percent.

Gideon Gono, the governor of the Reserve Bank, told state radio that the institution was banning transfers "in order to maintain the sanity in the financial system."

He accused businesses of using transfers to overprice their wares, said the Real Time Gross Settlement payment system was al

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: