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Home » Parallel market distresses Fidelity

Parallel market distresses Fidelity

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The widening gap between the official and parallel market exchange rates has created valuation and accounting difficulties, Fidelity Life Assurance (Fidelity) has said. It comes as a scarcity of foreign currency on the Reserve Bank of Zimbabwe (RBZ) auction system has pushed demand for the greenback on the parallel market, widening the ZWL’s discount. “The…

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