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.
As always Zim trending will keep you updated on the matter. Just stay tuned.
You can see the latest prices for basic goods by clicking here.
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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|
OTHER BUREAUX DE CHANGE BUYING/SELLING (USD as Base Currency)
|Bureau de exchange||Buying/Selling|
STREET/PARALLEL MARKET RATES 05/10/19
|US DOLLARS : REAL TIME GROSS SETTLEMENT||USD : RTGS||17.50:17.80|
|BRITISH POUND : REAL TIME GROSS SETTLEMENT (Ecocash)||GBP : RTGS||13.80- 14.00|
|BRITISH POUND : US DOLLARS||GBP : USD||1.20|
|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 RANDS||USD : ZAR||19.00-19.50|
|*OLD MUTUAL IMPLIED RATE||OMIR : RTGS||20.17|
|RANDS:REAL-TIME GROSS SETTLEMENT(Ecocash)||RAND;RTGS||105|
|RANDS: BOND CASH||RAND: BOND||65-70|
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.
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
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