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"Cash Strapped" - TNT Has Thoughts 1/29/19 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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"Cash Strapped" - TNT Has Thoughts 1/29/19

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Post by RamblerNash on Wed Jan 30, 2019 10:31 am

TNT

Zimbabwe to Allow Dollar Trading to Ease Currency Squeeze - Bloomberg


ARTICLE: Zimbabwe said it will allow companies and individuals to transfer dollars electronically, as it looks to ease a crippling scarcity of foreign exchange that’s sent the economy into meltdown and triggered protests.

The Reserve Bank of Zimbabwe has upgraded its systems to allow for such transactions and will run testing until Feb. 1, after which it plans to go live, the bank said in a statement Monday.

Please click on link to read entire article.............https://www.bloomberg.com/news/articles/2019-01-28/zimbabwe-central-bank-to-allow-dollar-trading-from-feb-1

Speedy:
Zimbabwe using dollars will ease the economic issues there and perhaps also speaks of improved relations with the United States, which I believe is good for us !!!

RVAlready:
My current take on Zimbabwe is that they are cash strapped. They have Human Resources, physical resources, and the means of production. They just need operating capital, which this will help.

SusanaC:
yep...it's allowing $$$ to enter zimbabwe..so now they have zwd and $$ flowing thru their banks together

Tim2lthman:
Noticed that date of testing completion.....FEB 1st!! 

The Reserve Bank of Zimbabwe has upgraded its systems to allow for such transactions and will run testing until Feb. 1, after which it plans to go live, the bank said in a statement Monday. “This is a small but important step in a long process of normalizing the monetary system in the country, which has become significantly dependent on the parallel market for goods and services payments,” said Chiedza Madzima, a senior analyst at Fitch Solutions in Johannesburg

NWMontana:
Most important quote from the Bloomberg article..." Until now, Zimbabweans have struggled to transfer real dollars electronically and usually use the black market and cash dollars instead." Dollars can now be traded electronically, so, easy peasy transfers, keeping the bucks within the banking system. Modern…. and takes those dollars out of the black market. good for them! : )
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