ZIMBABWE’S bankers are reacting negatively to new regulations on currency trading. On Wednesday, Zimbabwe Reserve Bank Governor Leonard Tsumba announced that any bank exceeding its foreign exchange limit of US$2-million during the course of trading will have its licence revoked. Bankers say this is a another move to tighten control over foreign currency trading. By limiting the amount of exchange a bank can do, Tsumba makes it easier to defend the Z$39,50 rate of exchange announced earlier this week.
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