Frequently Asked Questions (FAQ) On RTGS Dollars

5 years agoWed, 20 Feb 2019 14:33:32 GMT
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Frequently Asked Questions (FAQ) On RTGS Dollars

What are RTGS Dollars?

RTGS Dollars are a new currency announced by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya during a Monetary Policy Statement presentation on 20 February 2019. They comprise of bond notes, RTGS balances and bond coins.

What is the exchange rate of RTGS Dollars to US Dollars

There is no exchange rate for the RTGS dollar to US Dollar. However, RBZ governor John Mangudya said the rate will start between 3-4 RTGS dollars to 1 US dollar. He said the exchange rate is expected to decrease gradually.

I have Bond Notes cash what happens to my money now that Government has introduced RTGS Dollars?

Nothing. You already have RTGS dollars. Bond notes and coins are part of RTGS dollars.

Do I need to deposit my bond notes to get RTGS Dollars?

No. Those bond notes are already RTGS dollars.

If I want to change my RTGS Dollars to US Dollars where do I go?

Legally you have to go to your bank and they will offer you the current exchange rate. Its up to you to change your RTGS dollars at that rate or wait for a better one.

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Will the rate of the RTGS Dollar against the US Dollar go up?

No one knows. However, RBZ governor John Mangudya said he expects the rate to go down gradually.




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