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imbabwe - New currency announced!  2/20/19 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

imbabwe - New currency announced! 2/20/19

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imbabwe - New currency announced!  2/20/19 Empty imbabwe - New currency announced! 2/20/19

Post by Ssmith on Thu Feb 21, 2019 9:57 am

New currency announced

by Mandla Ndlovu

imbabwe - New currency announced!  2/20/19 John-Mangudya-147852

Zimbabwe has introduced a new currency called the RTGS Dollars, the Reserve Bank of Zimbabwe Chief John Panonetsa Mangudya said during the Monetary Policy Statement delivered on Wednesday.

Mangudya announced that the RTGS dollars is now currency, an addition to multi currency, will be the functional currency; used for pricing, settlement of local transactions and budget is in this currency. He announced that a legal instrument which will action this currency has been crafted.

When asked about the 'starting' exchange rate for the RTGS$ against the USD, Mangudya, who says the parallel market rate is between 3-4RTGS$ to the USD, said the RBZ will not set a rate but let the market set the exchange rate. It's value will be determined at a new interbank auction system.

The RTGS dollars shall be used by all entities, including government, and individuals in Zimbabwe for purposes of pricing of goods and services, record debts, accounting and settlement of domestic transactions

The use of RTGS dollars for domestic transactions will eliminate the existence of the multi-pricing system and charging of goods and services in foreign currency within the domestic economy, Mangudya said.

The Governor further revealed that Bureax de change shall be authorised to purchase forex without limits, but shall be limited to sell forex for small transactions such as subscriptions, business and personal travel up to a maximum aggregate daily limit of US$10 000 per bureau de change.


https://bulawayo24.com/index-id-news-sc-national-byo-156603.html
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imbabwe - New currency announced!  2/20/19 Empty Re: imbabwe - New currency announced! 2/20/19

Post by Kevind53 on Fri Feb 22, 2019 12:26 am

Zimbabwe has introduced a new currency called the RTGS Dollars, the Reserve Bank of Zimbabwe Chief John Panonetsa Mangudya said during the Monetary Policy Statement delivered on Wednesday.

omg Can't wait to see how the pooroos spin this .... picking bigsmile

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