Zimbabwe’s central bank on Thursday said it will allow exporters, including miners, to keep 75% of their export earnings in foreign currency after the current cap of 60% drew complaints from the industry. Reuters reports that the new measure, however, falls short of miners’ demands to keep 80% of their export earnings in foreign currency. The country requires all exporters to convert part of their export earnings into local currency at an official exchange rate significantly higher than the widely used black market exchange rate, leading to losses for the businesses.
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