US dollar/RTGS dollar official and black market rates latest … RTGS dollar plunges

There was a massive spike in parallel market rates yesterday during the later part of the day. The spike was so big that some foreign currency dealers suspended trading yesterday as they waited for the market to correct itself after a single USD started trading for north of 6 RTGS$, a massive premium of well over 500 percent.

Below is a compilation of the rates according to different sources.

iHarare Surveys

100 USD = 610.0 RTGS (510.0%)
100 USD = 460.0 Bond (360.0%)
100 ZAR = 37.00 RTGS

100 USD = 550.0 RTGS (450.0%)
100 USD = 536.0 Bond (436.0%)
100 USD = 686.0 RTGS (Old Mutual Implied Rate)

Below are the official bank rates for major currencies against the RTGS$ according to the Reserve Bank of Zimbabwe (RBZ) as of yesterday. Once the central bank updates with the official interbank rates for Wednesday, we will also update the article.
CURRENCY         BID         ASK         AVG
USD/RTGS$         3.3037   3.4730    3.3884
GBP/RTGS$         4.3750   4.3763    4.3757
EUR/RTGS$         3.7980   3.7996    3.7988
RTGS$/ZAR         4.2000   4.2026    4.2013
BWP/RTGS$        0.3157   0.3185    0.3171


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