THE Reserve Bank of Zimbabwe (RBZ)’s directive for companies to adopt ZiG as a functional reporting currency in a multi-currency regime has been met with cynicism, with some analysts warning of distortions in the interpretation of corporate performance.This comes as a majority of listed companies have been adopting the US$ as their reporting currency, alluding…
ZiG financial reporting directive sparks cynicism
The ZWG:US$ exchange rate has become more predictable. Gold and forex reserves have grown, and monetary expansion has largely remained within targeted levels.