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Exchange Control (Exchange Rate) (Amendment) Direction, 2007 (No. 4) - SI 165B/2007
September 06, 2007

This statutory instrument was published as a supplement to the Zimbabwean Government Gazette dated the 6th September, 2007.

[CAP. 22:05

Exchange Control (Exchange Rate) (Amendment) Direction, 2007 (No. 4)

IT is hereby notified that the Minister of Finance has, in terms of section 35 of the Exchange Control Regulations, 1996, and after consultation with the Reserve Bank of Zimbabwe, made the following regulations:-

1. This direction may be cited as the Exchange Control (Exchange Rate) (Amendment) Direction, 2007 (No. 4).

2. The Exchange Control (Exchange Rate) Direction, 2002, published in Statutory Instrument 223 of 2002 (hereinafter called "the principal direction"), is amended by the repeal of section 4 and the substitution of—

"Rate and maximum commission for foreign exchange transactions

4. (1) The rate at which the Zimbabwe dollar may be exchanged in the interbank market with the United States dollar shall be thirty thousand Zimbabwe dollars to the United States dollar.

(2) The maximum commission, fee or charge that may be levied on any foreign exchange transaction shall be zero comma two five per centum of the total nominal value, expressed in Zimbabwe dollars, of the foreign exchange transaction concerned.".

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