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*RTGS Dollar Loses Value* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?xo Reports have indicated that Zimbabwe’s local currency, the Real Time Gross Settlement (RTGS) dollar, has lost value. Since introduction, it has lost about 20% of its value. The loss of value is attributed to the scarcity of foreign currency on the formal market. Walter Mandeya of Trigrams Investments said:, > There is a feeling in the market that the formal market rate is being managed by the central bank, so export earners are reluctant to sell. But now that the rate has weakened further, we expect the market to be liquid going forward. When the RTGS dollar was introduced, late February 2019, the Reserve Bank of Zimbabwe put an official rate of RTGS$2.5:US$1. This has since devalued to current levels. The official exchange rate is however 40% lower than what is prevailing on the parallel market, where the RTGS dollar is trading at 4.2 times the greenback. ---------- Latest itel A06 on Pindula: 32GB storage, 4GB RAM $69 USD WhatsApp: +263715068543 Calls: 0772464000 ---------- *Related:* *Mthuli Ncube Admits To Devaluation Of RTGS Dollar* More: Fin 24 _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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