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Interbank and Street Rates Updated 05/10/2019.

Philomina by Philomina
05/10/2019
in Rates & Prices
Reading Time: 9min read
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Interbank and Street Rates Updated 28/09/19
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Updated 05/10/2019.

Interbank and Street Rates will be updated as the day goes. The MDC has castigated the decision by the Reserve Bank of Zimbabwe to cap cashing and cashout mobile money transactions at ZWL $100.

MDC Secretary for Elections said the limit is not enough to buy something, hence the limit should be reviewed.

About the $100rtgs limit

There has been some confusion on what the $100rtgs limit is really about for cashout facilities. This limit is per transaction not per day. So this means you can cash out a maximum of 100rtgs per transaction, not per day.

RBZ PRESS STATEMENT CASHIN AND CASHOUT AND CASHBACK FACILITIES
RBZ Press Statement number 4 point on $100 rtgs limit per transaction.

As always Zim trending will keep you updated on the matter. Just stay tuned. 

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NB: These rates are for indicative purposes only and may differ due to changing market conditions and the amount of the transaction. For current rates please visit your local bank or authorized forex dealer. 

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RBZ Official Rates 05/10/19

EXCHANGE RATES -05-10-2019               
CURRENCYBIDASKAVG
USD/ZWL$14.827715.694515.2611
GBP/ZWL$18.825118.832718.8289
EUR/ZWL$16.734916.741016.7380
ZWL$/ZAR0.99150.99200.9918
BWP/ZWL$1.37611.3883

 

OTHER BUREAUX DE CHANGE BUYING/SELLING (USD as Base Currency)

Bureau de exchangeBuying/Selling
NETONE15.26/15.69
TSD15.10/15.94
QUEST15.20/1569.
GETBUCKS15.00/16.05
FBC15.18/15.75
1st CAPITAL15.18/15.75
ZB15.18/15.75
STANBIC15.18/15.75
SUCCESS15.20/16.05
CABS14.98/15.91
STANCHART14.62/15.98
STEWARD14.60/16.19
NMB14.85/15.45
POSB14.86/15.60
FMC15.00/16.05
NEDBANK14.66/15.72
CBZ14.83/15.75
CONTI CASH15.25/16.00
AFRICAN CENTURY14.43/15.95
ECOBANK14.67/15.86
Dir Connect14.70/15.60
Cash 24 15.80/15.90

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STREET/PARALLEL MARKET RATES 05/10/19

 

US DOLLARS : REAL TIME GROSS SETTLEMENTUSD : RTGS17.50:17.80
BRITISH POUND : REAL TIME GROSS SETTLEMENT (Ecocash)GBP : RTGS 13.80- 14.00
BRITISH POUND : US DOLLARSGBP : USD1.20
USD DOLLARS : BOND CASH USD : BOND 10.10-10.15
BOND CASH : REAL TIME GROSS SETTLEMENT (Ecocash)BOND : RTGS 45.00-60.00
US DOLLARS : SOUTH AFRICAN RANDSUSD : ZAR19.00-19.50
*OLD MUTUAL IMPLIED RATEOMIR : RTGS20.17
RANDS:REAL-TIME GROSS SETTLEMENT(Ecocash)RAND;RTGS105
RANDS: BOND CASHRAND: BOND65-70

The ranges provided in the street rates are due to the differences from trader to trader. 

 

*OMIR refers to Old Mutual Implied Rate. This is a comparison of Share prices for Old Mutual in Zimbabwe, South Africa and UK where the share is simultaneously listed. The OMIR is used as a way to calculate the implied exchange rates for the 3 countries. The reasoning is that the share price should be uniform across the three since the shares lay claim on the same cash flows, assets and liabilities.

 

DISCLAIMER

ZIMTRENDING, as well as all members of our team, do not participate in the parallel market. We do not trade in foreign currency or advise anyone to do so. We just analyse the apparent parallel market within Zimbabwe. These rates are to be used as a benchmark only should never be quoted as official rates. If you are looking for official rates please consult the RBZ or your registered bank. We have no involvement with the RBZ, banks or any bureau de change’s whatsoever.

*Consult your Bank or the RBZ for the official rate

Other stories you may be interested in:

Mr Eddie cross does not speak for the government and his views are personal

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RBZ Caps Cashout Limit, Promise to Release More into circulation

RBZ“Command economies don’t work” says Tendai Biti

” Another tragic failure courtesy of RBZ” Zimbabweans react to the banning of Ecocash

Ecocash Comes Back Guns Blazing

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Philomina

Philomina

Social writer and digital marketing personnel.

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