RTGS$ Will Trade 15:1 To The US$ In Six Weeks-Biti

Movement for Democratic Change vice-president Tendai Biti, says the recently introduced RTGS$ will be trading at 15:1 to the United States dollar in August.

Biti who has been a strong proponent of dollarisation, dismissed sentiments by President Emmerson Mnangagwa on Friday that the RTGS$ was the strongest currency in the region

He tweeted:

“In August 2019 the RTGS$ will trade 15:1 to the US$ There is no production yet consumption levels are huge. To therefore claim that Zim has strongest currency in the region is both zany &unscientific. Those who have authored this crises should simply zip their cartel mouths.

“It will be impossible to turn around this economy without resolution of the political crises. No amount of lies & tampering will alter this fundamental fact. The sooner the cartels, muppets and mafia mis-running this country understand this the better.”

Biti recently had a tiff with current Finance Minister Mthuli Ncube in Parliament over the exchange rate last month with Ncube accusing him of destroying the central bank’s ability to conduct monetary policy when he dollarised the economy.

-The Insider