The Reserve Bank of Zimbabwe has come under fire for various issues lately. For starters Statutory Instrument 127 (SI127) caused an outroar amongst business owners. This instrument was deemed as punishment for the abuse of the foreign exchange auction by the 18 companies that were later exposed. Instead of addressing these pressing issues, Governor John… Continue reading Here’s why the new ZW$50 was made and is already in circulation
Tag: RTGS Dollar
Zimbabwean economy is finally on a solid foundation: Eddie Cross
This morning I had breakfast with three friends and we were charged at the rate of 115 to 1 for our food which was priced in US dollars. Later I had coffee with another group of friends and the rate charged was 120 to 1. On the auction that week, the weighted average rate was… Continue reading Zimbabwean economy is finally on a solid foundation: Eddie Cross
Zimbabwe to strictly enforce foreign exchange rates. Zvadhakwa
From June 2019 to March 2020 we all know that the Zimbabwean Real Time Gross Settlement dollar (RTGS) was the only official currency we could use. However, from thenceforth foreign currency has been used along with the RTGS dollar interchangeably. This seemed to be advantageous to businesses as some would use exchange rates to their… Continue reading Zimbabwe to strictly enforce foreign exchange rates. Zvadhakwa
Mthuli and Mangudya Must Resign says MDC Alliance
MAt least six weeks after Mangudya presented a wishy-wash, self-contradictory and retrogressive Monetary Policy Statement, Zimbabweans are paying the price. The exchange rate is collapsing every day, the price of the US dollar continues to firm against the fictitious RTGS dollar. It is fictitious both by definition and by reality; sadly ED Mnangagwa is creating… Continue reading Mthuli and Mangudya Must Resign says MDC Alliance