The forex rate of the US Dollar against RTGS balances has hit 300% (1:4) today, according to an update by MarketWatch. The rate has been climbing steadily over the past 2 weeks, from about 1:3.6.
Today’s rates are:
|USD / RTGS||4.00 (300%)|
|USD / BOND||3.86|
|BOND / RTGS||1.14|
|USD / ZAR||13.59|
|BOND / ZAR||3.52|
|RTGS / ZAR||3.40|
|OFFSHORE / USD||1.03|
A different forex rates updates service, Zimbollar, however, has slightly different rates and shows steadier rates over the past week. The current USD : RTGS rate on ZimBollar is 285% which translates to 3.85.
Market Watch says they are a team of independent analysts whose primary focus is research into the Zimbabwean parallel markets as well as the stock market. They update their website with the parallel rates every day.
Zimbollar says they are an independent source of economic and financial research data and that through the ZimBollar Index, they track the currency rates on the alternative market.