By Own Correspondent| Presenting the 2019 Monetary Policy Statement on Wednesday, Reserve Bank Governor (RBZ) Dr John Mangudya revealed that a legal instrument to ensure that RTGs dollars become part of the multi currency system in Zimbabwe had already been prepared.

Said Mangudya:

“After taking into account of the implications amd putting in place safeguards to maintain stability in the forex market, the bank is with immediate effect establishing an interbank foreign exchange market in Zimbabwe to formalise the trading of RTGs balances and bond notes with US$s and other currencies on a willing buyer willing seller basis through banks and bureaux de change under the following framework:

Denominating the existing RTGs balances , bond notes and coins in circulation as RTGs dollars in order to establish an exchange rate between the current monetary balances and foreign currency.

The RTGs dollars thus become part of the multi currency system in Zimbabwe. The legal instrument to give effect to this has been prepared.”