We wish to advise our valued customers on the key provisions of the Foreign Exchange Directive FXD5/2026 issued by the Reserve Bank of Zimbabwe following the Monetary Policy Statement of 27 February 2026.
The policy measures are aimed at deepening the use of the domestic currency and consolidating price and exchange rate stability.
Download the public notice
For full details of the account transition process and customer instructions, download the official public notice below.
Key highlights
- Directive: FXD5/2026
- Issued by: Reserve Bank of Zimbabwe
- Effective period: 2026 policy framework
- Focus: Domestic currency usage and financial stability
1. Foreign currency retention for exporters
Exporters will retain 70% of gross export proceeds, while 30% must be sold to the Reserve Bank at the prevailing Willing Buyer–Willing Seller (WBWS) rate.
2. Gold payment arrangements
- Artisanal & Small-Scale Miners: 90% USD / 10% local currency
- Large-Scale Miners: 70% USD / 30% local currency
3. Agriculture financing (cotton & tobacco)
- Local financing allowed without prior RBZ approval
- Borrowed funds: 30% converted to ZiG, 70% retained in FCA
- Farmers paid 70% foreign currency / 30% local currency
4. Export crop payments
Farmers must receive payments of up to 70% in foreign currency and at least 30% in domestic currency.
5. Industry compliance requirements
- Tourism operators must submit TRAS 1 reports monthly
- Cross-border operators must declare earnings using Form CD3
- Non-compliance may result in fines or blacklisting
6. Investments & financial regulations
- Greenfield investment gearing ratio remains 2:1
- PPP projects are exempt
- Domestic transactions must not be settled offshore
7. Transition to mono-currency system
The transition to exclusive use of ZiG will be gradual and dependent on macroeconomic stability, including inflation control, exchange rate stability, and sufficient reserves.
8. Compliance and enforcement
Non-compliance may result in fines, reputational damage, licence suspension, or legal action. Customers are encouraged to review internal processes to ensure adherence.
