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Difficult TO Tell Whether Econet Performed Well Or Not, Reason: Mangudya’s RTGS$

The introduction of the RTGS Dollar by the Governor of the Reserve Bank of Zimbabwe introduced far reaching ambiguity locally and internationally. One of the casualty of this is Econet Wireless Zimbabwe whose financial report for the year ended February 2019 has just been published. The Chairman of the Econet Board, Dr J Myers had […]

Business Man Turned-Politician Challenges Legality Of RTGS Dollars In High Court

Whilst we are still struggling to come to terms with the reintroduction of the Zimbabw Dollar, one politician has decided to challenge the introduction of RTGS Dollar, the predecessor of the Zimbabwean Dollar. In February, RBZ combined bond notes and coins and RTGS balances to come up with the RTGS dollar as a way to […]

The USD:RTGS Rate Keeps Getting Crazy, Keep Up With It Easily On WhatsApp

When the interbank foreign currency market was introduced we all kind of knew that it was never going to match or replace the parallel market for the trading of forex. The RBZ governor introduced the rate at USD/RTGS 1:2.5 and claimed that the parallel market rate which was 1:4 would come down. We called this […]

Zim Planning To Introduce “A New, Fully-Fledged Currency” In 12 Months – Mthuli Ncube

Finance Minister, Mthuli Ncube has given us another reason to feel unsettled by saying that Zimbabwe will have a “new, fully-fledged currency” in 12 month’s time. He said this during an interview with Bloomberg in which he was talking about how he plans to stabilise the economy by introducing a reference rate to guide the […]

Here’s Why 28 Nedbank Tellers Were Arrested

Yesterday, several Nedbank employees appeared before the magistrates to answer to allegations of money laundering and fraud. Why? Apparently, more than 28 bank tellers are being accused of fleecing as much as $US 1.1 million from the South African bank. How they stole the $US 1.1 million Remember that before the Monetary Policy Statement in […]

Folks On Social Media Are Shocked and Amused By President Mnangwagwa’s Remarks About The RTGS Currency

Folks on social media are in a state of bemusement and amusement regarding the weird remarks the President made yesterday. The president was talking about the donation Zimbabwe received from the United States and according to some people, he seemed like he was making fun of the RTGS currency. People interpreted President Mnangagwa as if […]

RBZ Licenses 26 New Bureaux de Changes: Here’s A List Of Them

The Reserve Bank of Zimbabwe has licensed a further 26 Bureau de changes in a move that will increase the number of participants in the Interbank Foreign Currency Exchange Market. In February, the central bank introduced this auction market where organisations and individuals can buy and sell RTGS Dollars and US Dollars at the prevailing […]

I Am Guilty Of Taking Exporter’s Money – Mangudya

The Reserve Bank Governor, John Mangudya has just admitted that he prejudiced exporters by taking their money at an unfavorable rate regardless of the inflation rising at least 3 times since October last year. During a DailyNews Breakfast Meeting this morning, the Governor said: I am guilty as charged. Taking exporters’ money at $1:1 when […]

The USD To RTGS Rate Will Start Off At 1:2.5 At The Interbank Exchange

The starting exchange rate between the USD and recently introduced RTGS dollar will be 1:2.5. This was announced by the governor of the Reserve Bank of Zimbabwe, John Mangudya at a monetary policy review meeting this morning. The governor said this was agreed to by the central bank and the banks. The rate itself is […]

Here Are The Answers To All Your Questions About The RTGS Dollars

What are RTG Dollars RTGS Dollars is money made up of bond notes, bond coins and RTGS balances( electronic money). What do you have right now? What you have in your bank account or mobile money wallet or pocket right now is now called RTGS Dollars. But those who opened Foreign Currency Account (FCA), their […]

Angry, Funny and Insighful Reactions To The Monetary Policy Statement

The introduction of RTGS Dollars (Zimbabwe’s new currency) yesterday has attracted interesting opinions from both public figures and unknown persons. We have just complied some few reactions that people on Twitter had when John Mangudya announced the shocking move. Here are some: TENDAI BITI‏ @BitiTendai  1) Modern functional States are founded on #trust & #transparency .That […]

Biti Was Right, Zimbabwe Has A New Currency

Yesterday’s Monetary Policy Statement vindicated former Finance Minister, Tendai Biti who last week had disclosed that Zimbabwe was going to introduce a new currency. Indeed, Mr. Biti was right Zimbabwe has essentially introduced a new currency. The redenomination of bond notes, coins, and RTGS balances to RTGS dollars technically (but not officially) means that Zimbabwe […]