RBZ introduces “RTGS Dollars”

A till operator collects new bond notes from a shopper at a supermarket in the capital Harare, Zimbabwe, November 28, 2016.REUTERS/Philimon Bulawayo

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”

RTGS DollarsReserve Bank of ZimbabweBond Notes
Zimbabwe RTGS Dollars are a Zimbabwean currency introduced on 20 February 2019. 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 Reserve Bank of Zimbabwe Governor, Dr…. Read More About RTGS Dollars

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 Reserve Bank of Zimbabwe

Bond Notes are a currency of notes backed by a bond that the Zimbabwe government announced on 4 May 2016 by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya. The $2 denomination of the notes was finally introduced on 28 November 2016. More notes were… Read More About Bond Notes