RTGS Dollars To Eliminate Multi-tier Pricing- RBZ

RBZ Bulawayo Regional Deputy Director Kasanda Sibanda said the use of the Real Time Gross Settlement (RTGS) dollars as a unit of account and settlement currency will help eliminate multiple pricing and other distortions.

Sibanda said this while addressing a Minex stakeholder engagement meeting in Gwanda yesterday. He said the RBZ will implement a Monetary Targeting framework, with specific monetary targets linked to the Bank’s inflation objectives. He added that the Bank is committed to the willing buyer – willing seller principle in the inter-bank foreign exchange market. Said Sibanda:

The RBZ will implement a Monetary Targeting framework, with specific monetary targets linked to the Bank’s inflation objectives. The establishment of an interbank foreign exchange market is expected to improve the supply of foreign exchange, restore export competitiveness; eliminate market distortions, and unlock the growth potential of the economy. The formal use of RTGS dollars as a unit of account and settlement currency will help eliminate multiple pricing and other distortions; while preserving foreign currency for foreign payments. The Bank is committed to the willing buyer – willing seller principle in the inter-bank foreign exchange market, and intervene in cases of market failures and other malpractices that may harm price and financial stability.


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RTGS DollarsGwandaRBZ

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

Template:Info Box Gwanda is a Town located in Matabeleland South Province in Zimbabwe. Read More About Gwanda

The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About RBZ

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