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*FULL THREAD: Why The InterBank Market is a Missed Opportunity* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?en According to the ZimBollar Research Institute, the Reserve Bank of Zimbabwe failed to deal decisively with the financial black market (alternative market) when it floated the bond note. Below is the full thread on the RBZ missed an opportunity: > Why the InterBank Market is a Missed Opportunity > In an unconventional fashion, we will use a scripture reference from the word of God in Mark 3 v 27- “No Man can enter into a strong man’s house and spoil his goods except he will first bind the strong man…….” > The STRONG MAN in the context of Zimbabwe’s Currency crisis is the Forex Alternative Market. When the Interbank Market was introduced on 22 Feb 2019, the RTGS/USD rate was at $3.85. Whatever interventions we would make were supposed to match (BIND) the Alternative Market (STRONGMAN)….. > To completely eliminate the Alternative Market the Interbank Market needed to set the initial price above the $3.85 obtaining on the 22 Feb 2019 instead of a starting rate of $2.5. This would have incentivised USD Holders to use official channels and improve forex supply. > Instead of allocating forex seed capital to kickstart the Interbank Market, the RBZ should simply have genuinely liberalised the market and allow Banks to match whatever the IB Market was offering. Seed capital should have been introduced later to improve forex supplies and sustain the market. Related: ---------- Pindula is best experienced with the Android App. *Download APK here:* https://zero.pindula.co.zw/media/apps/apks/pindula23.apk _On Econet, Pindula does NOT use your data_ ---------- Companies Struggling To Buy Forex At Official Rate – Mangudya New Monetary Policy Good, But Government Not Trusted Anymore: Business RTGS Dollar Weakens On Interbank Market Olivine Struggling To Access Forex On The Interbank Market itel A50 now available on Pindula at $84 64GB storage, 2GB RAM. _ideal for light usage_ _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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