Mangudya dismisses suspension of foreign exchange auction

Reserve Bank of Zimbabwe Governor John Mangudya has dismissed the suspension of the foreign exchange auction

In a statement, Mangudya said removing the auction system will cause shortage of goods in the market and cause high inflation.

This comes after the Confederation of Zimbabwe Industries called for the suspension of the auction system alleging that a mono currency system is in place.

Mangudya said all foreign exchange accounts are safe as RBZ has no reason to raid the accounts as alleged by CZI.

Below is the full statement