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*RTGS Dollar Falls By 140% In 4 Months* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?ru The local currency, the RTGS dollar or ZWL$ has fallen by 140 per cent since its introduction on February 20 by the Reserve Bank of Zimbabwe Governor John Mangudya. The RTGS4 is now trading at USD 1:6 on the RBZ monitored interbank market. ---------- *Latest itel S24 now available on Pindula* $124 Cash on Delivery in Harare & Bulawayo. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- Prior to the RTGS$’s introduction in February, local currencies were made up of bond notes and coins, bank balances and mobile money, which were supposedly at par with the greenback. The RTGS$ merged all the “currencies” and its value was immediately floated such that when it debuted, it was $2.50 to the US dollar. As of Tuesday, the black market rate averaged US$1: RTGS$8,70. While monetary authorities insist that the two markets will eventually coalesce, analysts are of the view that there will never be a convergence unless the foreign currency is readily available on the official interbank market. *More: Newsday* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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