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Black market exchange rate and official exchange rate Wednesday 22 May morning

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The US$500 million draw down facility announced by the Reserve Bank of Zimbabwe only took steam off the galloping black market exchange rate, but only for a short while.

The black market rate seems to be picking up pace again, showing that it will need much more than US$500m to tame it, if taming it is the plan at all.

The current bank exchange rates for the RTGS$ today are as follows

  • USD to RTGS$: 4.5497
  • RTGS$ to RAND: 3.1700

Data according to the Reserve Bank of Zimbabwe 

Black Market Rates:

  • USD to RTGS$: 6.1
  • USD to BOND: 5.92
  • RTGS$ to RAND: 2.36
  • BOND to RAND: 2.43

More: marketwatch.co.zw




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