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Control (Exchange Rate) (Amendment) Direction, 2007 (No. 4) - SI
September 06, 2007
instrument was published as a supplement to the Zimbabwean Government
Gazette dated the 6th September, 2007.
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—
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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