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*Financial Markets To Remain Unstable* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?mn According to local financial services firm, IH Securities, Zimbabwe’s financial markets are likely to remain unstable until Nostro Foreign Currency Accounts (FCAs) meet the demand in the real-time gross settlement accounts (RTGS). IH securities went on to say that by separating the accounts, into separate dedicated Nostro FCAs and electronic accounts, the central bank was admitting the two are not at par. Part of the report reads > We believe that volatility in rates will persist until transferrable foreign currency in FCA nostro accounts meets foreign currency demand in FCA RTGS accounts, thus reaching equilibrium. We estimate the real effective exchange rate to be such that the parallel rate should converge to our estimate of 115% (implied rate 1—2,15) should fundamentals come into play…genuine productive sector businesses have significantly slowed down as ability to pass on that level of cost to the consumer becomes strained. This has had an impact on COGS (cost of goods sold) and we expect this to remain a challenge as long as the currency problems remain unresolved. More: NewsDay ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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