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Zimbabwe to Supply Interbank Market With $500 Million
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Zimbabwe to Supply Interbank Forex Market With $500 Million
In February the central bank created the interbank market and said its quasi-currency, known as RTGS, would no longer be pegged to the dollar but would be allowed to trade at fair value on the market. The quasi currency, now known as RTGS dollars, isn’t traded outside Zimbabwe. “This amount shall go a long way to stabilize the exchange rates and prices of goods and services,” John Mangudya, the governor of the Reserve Bank of Zimbabwe, said in a statement tweeted by the central bank.
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Zimbabwe to Supply Interbank Market With $500 Million
In February the central bank created the interbank market and said its quasi-currency, known as RTGS, would no longer be pegged to the dollar but would be allowed to trade at fair value on the market. The quasi currency, now known as RTGS dollars, isn’t traded outside Zimbabwe. “This amount shall go a long way to stabilize the exchange rates and prices of goods and services,” John Mangudya, the governor of the Reserve Bank of Zimbabwe, said in a statement tweeted by the central bank.
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