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Govt rebuked over currency controls
Tafadzwa Mhlanga ·
FINANCIAL services firm, Morgan and Co has urged government not to impose policies on the market.
In April, Morgan and Co argued with one politician who had claimed the Old Mutual Implied Rate (OMIR) was being used to drive the foreign currency exchange rate while the former insisted it was being driven by market forces.
The OMIR is used to determine the exchange rate by comparing the share prices for Old Mutual in Zimbabwe, South Africa and United Kingdom where it is simultaneously listed.
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