Zimbabwe to manage volatility of new RTGS currency – Finance Minister

HARARE, Feb 25 (Reuters) – Zimbabwe’s central bank will buy or sell dollars to manage volatility in the RTGS currency it launched last week, Finance Minister Mthuli Ncube said on Monday, adding that the level of 2.5 RTGS to the U.S. dollar was appropriate for now.

Ncube told Reuters in an interview in Harare that investors should not worry about the Zimbabwean government ramping up issuance of Treasury bills. He said: “That tap is closed for now.”

Zimbabwe ditched a discredited 1:1 dollar peg for its dollar-surrogate bond notes and electronic dollars last week, merging them into a lower-value transitional currency called the RTGS dollar.