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Black market & official exchange rates: RTGS dollar continues weakening

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There was a massive spike in parallel market rates yesterday (Wednesday) during the later part of the day. 

The spike was so big that some foreign currency dealers suspended trading yesterday as they waited for the market to correct itself after a single USD started trading for north of 6 RTGS$, a massive premium of well over 500 percent.

Below is a compilation of the rates Thursday morning according to different sources.

Street Surveys

100   USD   =   610.0   RTGS (510.0%)
100   USD   =   460.0   Bond (360.0%)
100   ZAR  =     37.00   RTGS

MarketWatch.co.zw

100   USD   =   550.0   RTGS (450.0%)
100   USD   =   536.0   Bond (436.0%)
100   USD   =   686.0   RTGS (Old Mutual Implied Rate)

Rates.co.zw

Unfortunately, due to yesterday’s spike, one of the sources that use in compiling the data does not have any information available.

Below are the official bank rates for major currencies against the RTGS$ according to the Reserve Bank of Zimbabwe (RBZ) as of yesterday. 

Once the central bank updates with the official interbank rates for Wednesday, we will also update the article.

CURRENCYBIDASKAVG
USD/RTGS$3.30373.47303.3884
GBP/RTGS$4.37504.37634.3757
EUR/RTGS$3.79803.79963.7988
RTGS$/ZAR4.20004.20264.2013
BWP/RTGS$0.31570.31850.3171




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