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*What The New RTGS Dollars Mean For You* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?cq Business publication, newZWire, has posted a Monetary policy for dummies, to answer some of the questions on everyone’s mind. Here’s a short version: ---------- 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_ ---------- *What does this mean for my deposits?* Unless of course, you are lucky enough to have one of the FCA Nostro accounts introduced in October 2018 , the money in your bank account is not really in United States dollars. It is RTGS dollars. *Do we have a new currency?* Yes. RBZ still won’t say so explicitly though. *Is even legal?* Not yet. A legal instrument is required to reflect the new policy thrust and the government will issue it. *What is the starting exchange rate of this new ‘currency’?* RBZ governor refused to give a starting rate and said the market will decide, and in any case, the parallel rate is already 3-4 RTGS Dollars to 1 USD. Mangudya expects the rate to go down. *Will you be able to walk into a bank and get forex?* unclear *What happens to prices?* RBZ has said all pricing for domestic transactions will now be in the local RTGS$ currency. In short, no more charging of domestic goods and services in foreign currency. *What about essential imports?* The RBZ will still allocate forex for these separately from the interbank foreign currency market. Essential imports include medicines, fuel, electricity, cooking oil and water treatment chemicals. *How will the RBZ fund these?* Funds retained from exporters. More: NewZWire 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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