Covid 19: US$ tumbles against Bond

Mirror ReporterMasvingo – The US$1 has tumbled against the $RTGS from a peak of US$1 to RTGS$45 last week to US$1 to RTGS$29 in the streets of Masvingo this morning.The rate is for Ecocash.The rate for cash also tumbled from a peak of US$1 to RTGS$35 to US$1 to RTGS$25.A prominent dealer in Masvingo who cannot be named said the fall is due to the RTGS$ float that has dried up because of the closure of the banks.“The closure of Banks over Covid 19 has seen cash and Ecocash float drying up and this has seen the local currency getting firmer against the US$.

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