RTGS$ : USD Rate Comes Down To 5

The street parallel market exchange rate of the RTGS $ to the US dollar came down at the weekend to between 4.7 and 5.15. Just as with the sudden rise in the rate last week, which peaked at 8, it is not clear what has caused the recent decline.

When the rate shot up last week, there was speculation that some individuals or organizations had provided the RTGS$ liquidity which the market responded to.

The official interbank rate, last updated on Friday 17 May by the RBZ, remained at 3.45.

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