Own Correspondent|Reserve Bank Governor John Mangudya on his own free will admitted that his surrogate currency, the Bond Note, failed and cheated investors.

Speaking at a Breakfast meeting held by the Reserve Bank and captains of industry on Friday to review the monetary policy statement he presented on Wednesday, Mangudya conceded that he was at fault insisting on the one is to one rate between the Bond Note and the US Dollar.

“I am guilty as charged, taking exporters money at 1:1 when prices had risen by three or four times was unfair,” Said Mangudya

In 2016, Mangudya vowed to resign in the event that the bond note which is now called RTGS$ failed.

“I have high confidence in this measure we are taking. I know it will bear fruits. In the event the bond notes fail, I will surely resign and walk away from the office and leave someone else to take charge because I would have failed the nation,” declared Mangudya.

Minister of Finance Professor Mthuli Ncube admitted that one is to one rate was punishing Exporters.

“The 1:1 peg was punishing exporters, we were killing the goose that lays the golden egg,” said Ncube.