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Source: Reuters (adds details, analyst) By MacDonald Dzirutwe HARARE, Apr 30 (Reuters) - Zimbabwe's central bank eased foreign currency rules on Wednesday to help thwart a flourishing parallel black market in an ...

The Central Bank Governor presented the 2008 First Quarter Monetary Policy Statement yesterday and introduced a number of policy measures, chief among them, some foreign currency reforms.

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Zimbabwe has decided to float its local currency on foreign exchange markets in an attempt to eliminate speculation on the black market, the governor of the Central Bank said Wednesday.

The fluctuating currency market is affecting more than fiscal results; it is also skewing competitiveness and preoccupying corporate boards as top management confronts one more issue over which it has limited control.

ZIMBABWE'S central bank eased foreign exchange rules on Wednesday, allowing commercial banks to set the currency rate to help thwart a thriving parallel black market.

He is called the mastermind of a Ponzi scheme that bilked investors out of $11 million.

Zimbabwe's central bank eased foreign exchange rules on Wednesday, allowing commercial banks to set the currency rate to help thwart a thriving parallel black market.

The country's foreign-exchange reserves declined by $663 million to $312.87 billion in the week ended April 25, the central bank said.

The Swiss National Bank on Friday reported a $3.79 billion first-quarter loss because of the slumping value of foreign currency reserves like the U.S. dollar and the British pound.