Central Banks

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Reserve Bank of Zimbabwe (RBZ)

by Aisha MeyerMay 13, 2017

Overview

Abbreviation

RBZ

Founded

March 1956

Headquarters

Harare, Zimbabwe

Website

http://www.rbz.co.zw

Reserve Bank of Zimbabwe (RBZ)

The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. The RBZ is responsible for the formulation and implementation of monetary policy, directed at ensuring low and stable inflation levels. A further core function of the Bank is to maintain a stable banking system through its supervisory and lender of last resort functions. Other secondary roles of the Bank include the management of the country’s gold and foreign exchange assets. The bank is the sole issuer of currency and acts as banker and advisor to Government.

Monetary policy formulation and implementation
Issuer of bank notes and coins
Custodian of gold and other foreign assets
Banker and advisor to government
Bankers’ bank and lender of last resort

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Topics

Zimbabwe

About The Community Member

Aisha Meyer

A central bank, reserve bank, or monetary authority is an institution that manages a state's currency, money supply, and interest rates. Central banks also usually oversee the commercial banking system of their respective countries. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base in the state, and usually also prints the national currency, which usually serves as the state's legal tender.

Zimbabwe