Zimbabwe: Change in Representative Rate
IMF Staff Country Reports, September 26, 2024
Source details
- Canonical URL
- Zimbabwe: Change in Representative Rate
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Bibliographic details
- Published: September 26, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400288593.002
Summary of action and context
- Zimbabwe introduced the Zimbabwe Gold in April 2024, replacing the Zimbabwe dollar.
- Zimbabwe informed the IMF on April 29, 2024 of the introduction of the new currency called the Zimbabwe Gold, in accordance with IMF Article IV, Section 2(a).
- The procedure to establish the representative rate for the Zimbabwe dollar was established in December 2019.
Purpose and use of the representative rate
- The representative rate is used to value the Fund’s holdings of Zimbabwe’s currency in terms of the SDR.
- For the Zimbabwe dollar, the representative rate was defined as the midpoint between the buying and selling rates against the U.S. dollar as reported by the Reserve Bank of Zimbabwe.
IMF finding (after consultation with Zimbabwean authorities)
- The IMF finds that the representative exchange rate for the Zimbabwe Gold is the midpoint (average) between the buying and selling rates against the U.S. dollar as reported by the Reserve Bank of Zimbabwe.
Key metadata and identifiers (as presented)
- Pages: 3
- Volume: 2024
- Issue: 303
- Series: Country Report No. 2024/303
- DOI: https://doi.org/10.5089/9798400288593.002
- Stock No: 1ZWEEA2024001
- ISBN: 9798400288593
- ISSN: 1934-7685
Source: Zimbabwe: Change in Representative Rate (September 26, 2024).
Content in this bundle
- Zimbabwe: Change in Representative Rate; IMF Country Report No. 24/303; September 9, 2024