Reserve Bank of Zimbabwe
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Reserve Bank of Zimbabwe is the central bank of the southern African nation of Zimbabwe. The bank had its origins in the Bank of Rhodesia and Nyasaland which was established in March 1956.
Reserve Bank of Zimbabwe is the central bank of the southern African nation of Zimbabwe. The bank had its origins in the Bank of Rhodesia and Nyasaland which was established in March 1956.
The Reserve Bank of Zimbabwe operates under the provisions of the Reserve Bank of Zimbabwe Act, 1964. The vision of the bank is to ensure strong economic advancement of the Zimbabwean economy. The primary objective of the Bank is to maintain the internal and external value of the Zimbabwean currency. With this primary objective in mind, the bank is responsible for undertaking the following functions:
- Formulating and implementing monetary policy in order to ensure low and stable inflation levels
- Maintaining a stable banking system in the country through supervision and lender of last resort functions
- Managing and holding the country’s foreign exchange and gold reserves
- Acting as the sole issuer of the currency for circulation in the country
- Acting as a banker to the government
- Advising the government on economic and financial matters
- Acting as bankers’ bank
The day-to-day administration and operation of the bank is in the hands of the Governor of the bank. Three deputy Governors assist the Governor. Besides the Governor, the Board of Directors is also responsible for the administration of the bank.
The State President appoints the Governor and the three deputy Governors. Their term is five years and they can be reappointed. The Governor heads the Board of Directors. The Board consists of the three Deputy Governors and a maximum of seven other non-executive directors. These Directors represent key sectors of the Zimbabwean economy and are appointed by the President.
The Address and Contact details of the bank is as follows:
Reserve Bank of Zimbabwe
Address: P.O. Box 1283 Harare ZIMBABWE Phone No.: ++263-4-70 73 00 Fax: ++263-4-70 78 00
