<p>RBZ Bulawayo Regional Deputy Director Kasanda Sibanda said the use of the Real Time Gross Settlement (RTGS) dollars as a unit of account and settlement currency will help eliminate multiple pricing and other distortions.</p>
<p>Sibanda said this while addressing a Minex stakeholder engagement meeting in Gwanda yesterday. He said the RBZ will implement a Monetary Targeting framework, with specific monetary targets linked to the Bank’s inflation objectives. He added that the Bank is committed to the willing buyer – willing seller principle in the inter-bank foreign exchange market. Said Sibanda:</p>
<blockquote><p>The RBZ will implement a Monetary Targeting framework, with specific monetary targets linked to the Bank’s inflation objectives. The establishment of an interbank foreign exchange market is expected to improve the supply of foreign exchange, restore export competitiveness; eliminate market distortions, and unlock the growth potential of the economy. The formal use of RTGS dollars as a unit of account and settlement currency will help eliminate multiple pricing and other distortions; while preserving foreign currency for foreign payments. The Bank is committed to the willing buyer – willing seller principle in the inter-bank foreign exchange market, and intervene in cases of market failures and other malpractices that may harm price and financial stability.</p></blockquote>
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<h4><strong>Related:</strong></h4>
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<h3 class="entry-title"><a href="https://news.pindula.co.zw/2019/03/15/rtgs-dollar-faces-uncertain-future/" rel="bookmark"><strong>‘RTGS Dollar Faces Uncertain Future’</strong></a></h3>
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<h3 class="entry-title"><strong><a href="https://news.pindula.co.zw/2019/03/15/mthuli-urges-zimbabweans-to-fully-embrace-rtgs-dollars/" rel="bookmark">Mthuli Urges Zimbabweans To Fully Embrace RTGS Dollars</a></strong></h3>
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<h3 class="entry-title"><strong><a href="https://news.pindula.co.zw/2019/03/14/rtgs-dollar-weakens-on-interbank-market/" rel="bookmark">RTGS Dollar Weakens On Interbank Market</a></strong></h3>
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<p>More: <a href="https://www.263chat.com/rtgs-dollars-to-eliminate-multiple-pricing-rbz/">263Chat</a></p>


Pindula News

RTGS Dollars To Eliminate Multi-tier Pricing- RBZ

<p>Zanu-PF urged Government to address the issue of the three-tier pricing system prevailing on the market.</p>
<p>Zanu-PF  also called for the monitoring of banks particularly bank charges which are very high. This is contained in the resolutions adopted at Zanu-PF’s just ended 17th Annual National People’s Conference held in Esigodini, Matabeleland South Province. The resolutions read:</p>
<blockquote><p>That the monitoring policy must ensure that banks give meaningful interest on deposit accounts and avoid astronomical bank charges. That the Government intervenes expeditiously to eradicate the three tier pricing distortions in the market.</p></blockquote>
<p>More: <a href="https://www.chronicle.co.zw/zanu-pf-urges-government-to-act-on-three-tier-pricing/">Chronicle</a></p>


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