RBZ Introduces “RTGS Dollars”

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya said RTGS, bond notes and coins are to be immediately denominated as ‘RTGS dollars’.

He said the legal instrument giving effect to this has been prepared and will be gazetted soon. He said RTGS dollars have become one of the currencies in the currency bucket of the multi-currency system of the economy. The RTGS dollars shall be used by all entities in Zimbabwe for the purposes of pricing of goods and services, debts, accounting and settlement of transactions.

Mangudya said the central bank has put in place measures to maintain stability as we establish an interbank foreign exchange market in Zimbabwe to formalise the exchange of Bond and RTGS with USD and other currencies”

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