What are RTGS Dollars?
RTGS Dollars are a new currency announced by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya during a Monetary Policy Statement presentation on 20 February 2019. They comprise of bond notes, RTGS balances and bond coins.
What is the exchange rate of RTGS Dollars to US Dollars
There is no exchange rate for the RTGS dollar to US Dollar. However, RBZ governor John Mangudya said the rate will start between 3-4 RTGS dollars to 1 US dollar. He said the exchange rate is expected to decrease gradually.
I have Bond Notes cash what happens to my money now that Government has introduced RTGS Dollars?
Nothing. You already have RTGS dollars. Bond notes and coins are part of RTGS dollars.
Do I need to deposit my bond notes to get RTGS Dollars?
No. Those bond notes are already RTGS dollars.
If I want to change my RTGS Dollars to US Dollars where do I go?
Legally you have to go to your bank and they will offer you the current exchange rate. Its up to you to change your RTGS dollars at that rate or wait for a better one.
Will the rate of the RTGS Dollar against the US Dollar go up?
No one knows. However, RBZ governor John Mangudya said he expects the rate to go down gradually.
Zimbabwe RTGS Dollars are a Zimbabwean currency introduced on 20 February 2019 by the Reserve Bank of Zimbabwe. At introduction, the currency consisted of existing RTGS balances in bank accounts, Bond Notes cash and Bond Coins. The introduction of the RTGS Dollars was announced by... Read More About RTGS Dollars
Bond Notes are a currency of notes backed by a bond that the Zimbabwe government announced on 4 May 2016 by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya. The $2 denomination of the notes was finally introduced on 28 November 2016. More notes were... Read More About Bond Notes
Bond coins are a currency of coins backed by a bond that were introduced by the Reserve Bank of Zimbabwe (RBZ) in December 2014 and in March 2015 respectively with the aim of easing transaction change problems. The bond coins were denominated in 1 cent,... Read More About Bond Coins