JUST IN: Foreign currency rates soar

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Parallel market US Dollar rates hit 270% (RTGS$3.70 to US$1) this morning as the greenback continues to strengthen against Zimbabwe’s Bond Note and RTGS surrogate currencies.

Government insists that electronic balances reflecting in local bank accounts are at par with the powerful greenback despite banks not having any US dollar cash.

President Emmerson Mnangagwa this week told a cheering Zanu PF Central Committee that Bond Notes were indeed at par with the US dollar.

“The Bond will remain one to one with the dollar, those who want to lose their money can change it at whatever level but formally and officially it remains one to one,” he said.

— Kukurigo


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