Business and Technology

Reserve Bank of Zimbabwe increase fuel forex allocation

The Reserve Bank of Zimbabwe (RBZ) has increased foreign currency allocation for fuel per week to US$10 million to curtail threats of shortages for the commodity.

The panic buying which has characterised consumers this week has seen motorists queuing at service stations with some filling up drums and containers a situation which is being fuelled by fake social media messages spreading falsehoods of an impending shortage of fuel and basic commodities.


The central bank governor Dr John Mangudya dismissed suggestions of fuel shortages saying the central bank is allocating an additional US$30 million a week for basic and essential commodities importation with fuel being allocated US$10 million.

Most service stations in the capital are selling diesel and petrol using both swipe and cash although most of the fuel stations are characterised by long queues.

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