HomeBusiness

RTGS Dollar Weakens On Interbank Market

4 years agoThu, 14 Mar 2019 16:08:35 GMT
Share on FacebookShare on TwitterShare on LinkedIn
RTGS Dollar Weakens On Interbank Market

Zimbabwe’s new currency, the RTGS dollar traded at its lowest against the US dollar on the interbank market on Thursday, since it was introduced.

According to official data from the Reserve Bank of Zimbabwe (RBZ) the RTGS dollar traded at 2.7 against the U.S. dollar.

The country abandoned the discredited 1:1 dollar official peg on Feb. 20 when the RBZ governor announced the Monetary Policy Statement (MPS).

Since then, the bond notes and electronic dollars into a transitional currency called the RTGS dollar.

The value of the RTGS dollar had held unchanged at 2.5 to the U.S. dollar since Feb. 22, leading to accusations the central bank had fixed the exchange rate.

Usanetseke neNetOne airtime.

Baya *405# utenge neEcoCash

RBZ governor John Mangudya told parliament on Monday that he expected the RTGS dollar to weaken further by the time important tobacco auctions open next Wednesday.

Related:

More: Reuters

Tags

0 Comments

Leave a Comment


Generate a Whatsapp Message

Buy Phones on Credit.

More Deals
Feedback