Zimbabwe reverses controversial plan to convert export receipts

May 12, 2016 by · Comments Off on Zimbabwe reverses controversial plan to convert export receipts 

HARARE, May 11 — The Reserve Bank of Zimbabwe (RBZ), or the central bank, has scrapped a controversial plan to convert corporate export receipts denominated in the U.S. dollar into the South African rand and the euro barely a week after announcing the measure to counter a liquidity challenge facing the country's financial system.

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