Following the pronouncement of the 2024 Monetary Policy Statement by the Reserve Bank of Zimbabwe (“RBZ”) on 05 April 2024, the Zimbabwe Stock Exchange Limited Depository (“ZSE Depository”) wishes to advise stakeholders on the following settlement adjustments that will be implemented effective 08 April 2024 in light of the new structured currency named Zimbabwe Gold (“ZiG”).
Currency Conversion Rate:
All outstanding ZWL settlements as at 5 April 2024, will now be payable in ZiG. These will be converted at the initial conversion exchange rate of ZiG1 to ZW$2498.7242 which is prescribed in the operational manual for structured currency issued by the RBZ on 5 April 2024.
This is summarised in the table below:
The ZSE Depository will send revised settlement schedules to all custodians for trades settling on Monday, 8 April 2024, Tuesday, 9 April 2024, and Wednesday, 10 April 2024 respectively.
All future settlements from the 11th of April 2024 will now be in ZiG in line with the trading adjustments on the ZSE from the 8th of April 2024.
