This paper develops a predictive exchange rate determination model for Zimbabwe. This model is consistent with the Reserve Bank’s recently introduced "Willing Buyer-Willing Seller" (WBWS) interbank exchange rate determination framework announced on the 5th April 2024 by the monetary authorities. Within a closed loop, in a general structural macroeconomic model where households, firms, the Government and the Central bank are the main blocks, the study integrates aspects of the balance of payments framework and liquidity models to construct a robust model for exchange rate determination in Zimbabwe. Using a structured currency framework, this work aims to quantify the equilibrium exchange rate, drawing from both theoretical and empirical literature. We implement Vector Autoregression (VAR) models to estimate key parameters and simulate exchange rate movements with and without central bank interventions. The results offer insights into exchange rate stabilization in the context of Zimbabwe’s economic realities.