Mthuli Urges Zimbabweans To Fully Embrace RTGS Dollars

Finance and Economic Development Minister Mthuli Ncube said Zimbabweans should accept the new currency, the RTGS Dollar since it is the official currency.

Speaking at the inaugural Youth Indaba, organised by Ministry of Youth and attended by youths from all the country’s 10 provinces, he said:

We have introduced the RTGS dollar. Citizens have to accept the introduction of the RTGS dollar. Whether you like the name or not, it is the domestic currency now, let’s respect it and support it.

I and the Governor (of the Reserve Bank, John Mangudya) are going to defend it. Defend its value, that’s our job.

Zimbabwe is the cheapest buy in Africa in terms of investment. It has gotten cheaper because there were coming at $1US to $1 bond note, now they are coming at US$1: RTGS$2.50 or depending on where the market is headed.

… But then it (value) can go anywhere. It is the business of the market. Our job is to manage the volatility, but not the level. Those of you who did statistics there is a difference between standard deviation and the mean.

The RTGS dollar was introduced as the new currency by the Central Bank governor John Mangudya as part of the basket of multi-currencies when he presented the Monetary Policy Statement.

Related:

More: NewZimbabwe.com

Mthuli NcubeRTGS DollarsJohn Mangudya

Professor Mthuli Ncube is the Minister of Finance and Economic Development.He was the Chief Economist and Vice President of the African Development Bank ,financial, economics, investment, and public policy expert, entrepreneur and academic. Professor Ncube divides his time between the private sector in Switzerland and... Read More About Mthuli Ncube

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

John Panonetsa Mangudya is an economist and the current Reserve Bank of Zimbabwe governor. Mangudya, who sits on many local and international boards .He was made RBZ governor after the expiry of Gideon Gono's term in 2014. He had been CBZ Holdings Ltd Chief Executive... Read More About John Mangudya

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