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*'RTGS Dollar Faces Uncertain Future'* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?hj A regional economic think-tank, NKC African Economics (NKC), has warned that Zimbabwe’s currency risk score remained high due to low production, company closures and rising inflation. The country introduced a new currency a few weeks ago, the RTGS Dollar which was pegged at 2.5 to the Greenback when it started to trade at the interbank market. ---------- *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* *LATEST: itel S24 (128) $124; S24 (256GB) $159* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- In its currency risk note, NKC said: > Zimbabwe and Sudan’s currency risk scores are at the very high end of the spectrum, with both countries experiencing rampant inflation and extremely low forex reserve buffers. > We also have concerns about the extent of government borrowing from the central bank and the impact that will have on inflation. > Most recently, the RTGS dollars was trading at 3,8/$ on the black market. On February 20, the central bank officially acknowledged that the currency is no longer on par with the dollar, saying that the rate would be market-determined. > However, it has subsequently been pegged at 2.5/$. Given the lack of trust in the new currency, the outlook remains highly uncertain. The RTGS has been gradually losing ground against the US dollar. *Related:* *Mthuli Urges Zimbabweans To Fully Embrace RTGS Dollars* *RTGS Dollar Weakens On Interbank Market* *RTGS Dollar To Weaken Ahead Of Tobacco Auction – RBZ* *Bond Note NO LONGER 1:1 To US Dollar, Now Part Of The RTGS Dollars Family* *More: Financial Gazette (Subscription Required)* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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