News / National
Fears grow pending bond notes, RTGS crash
11 Oct 2018 at 06:56hrs | Views
Uncertainty hangs over the future of bond notes and real-time gross settlement (RTGS) transfers, as more businesses are rejecting the two payment methods and the economy is effectively re-dollarizing.
This comes against the background of conflicting signals by senior government officials particularly Finance minister Mthuli Ncube, that have fuelled Zimbabwe's sky-high parallel market rates, price increases, commodity shortages and temporary company closures.
Meanwhile, Zimbabwe's runaway cash black market is anticipated to remain firm in the wake of a deepening foreign exchange scarcity that saw the United State dollar premium surging to 400 percent as at midday yesterday.
This comes against the background of conflicting signals by senior government officials particularly Finance minister Mthuli Ncube, that have fuelled Zimbabwe's sky-high parallel market rates, price increases, commodity shortages and temporary company closures.
Meanwhile, Zimbabwe's runaway cash black market is anticipated to remain firm in the wake of a deepening foreign exchange scarcity that saw the United State dollar premium surging to 400 percent as at midday yesterday.
Source - fingaz
