The Reserve Bank of Zimbabwe (RBZ) has injected an additional $50 million into the market to support the foreign exchange system.
However, industry leaders believe banks are not doing enough to facilitate the smooth functioning of the market.
They argue that the policy of requiring companies to have no current nostro balances before bidding for foreign currency hampers demand.
The RBZ must streamline its processes and reduce administrative hurdles to ensure the economy runs smoothly and restore confidence in the currency market.

The Reserve Bank of Zimbabwe (RBZ) has devalued the Zimbabwe Gold (Zig) by 44%, sending the currency plummeting from 13.98 to 24.3 against the US dollar.
The drastic move is aimed at addressing rising exchange rate volatility and inflationary pressures that have weighed on the economy since August.
According to RBZ Governor John Mushayavanhu, the decision was necessary due to renewed exchange rate pressures and rising inflation.