By Own Correspondent| The black market rates have soared with the US Dollar trading at 92 percent for RTGs while it is trading at 75 percent for bond notes.
The newly elected Finance and Economic Development minister, Professor Mthuli Ncube is on record promising to deal with Zimbabwe’s prevailing cash crisis soon after his swearing in at the State House in Harare.
Professor Ncube took over from Patrick Chinamasa who failed to implement a working formula which resulted in the banks running dry of cash reserves and failure to process international remittances.
Reported the Zim Bollar Index:
SECOND UPDATE
Rates have spiked Yet again with the RTGS/USD breaching the 90% mark to close the day at 92%. RTGS/Bond note rose to 75% as market continues to disregard the Bonnd Note:
RTGS/USD 92%
Bond/USD 75%
RTGS/Bond 12%@BrezhMalaba @Mathuthu @EdmundKudzayi pic.twitter.com/Fyp3lbDLxV— ZimBollar (@ZimBollar) September 12, 2018