Own Correspondent|Zimbabwe’s banks on Friday started trading a new currency with corporate clients and individuals, although interbank trading won’t begin until Monday, a banking source said.

Zimbabwe’s central bank announced on Wednesday it would scrap the official 1:1 peg between its quasi-currency bond note and the U.S. dollar, launching a new currency known as RTGS dollars.

The central bank began selling U.S. dollars to banks on Friday morning at a rate of 2.5 RTGS to the greenback according to sources.

The rate is however being heavily resisted by individuals intending to sale the US dollar to the banks as the parallel market rate shot to RTGS$4 to $1.

The artificial rate at the banks is reportedly being forced on by the Reserve Bank of Zimbabwe while the banks do not have the foreign currency at hand.