The Reserve bank of Zimbabwe has upgraded the Real Time Gross Settlement (RTGS) platform to include the United States Dollars (USD ) to facilitate settlement of USD Nostro Foreign Currency Account transactions, the Mail and Telegraph has learnt.
The function is however still in a ‘test run’ but is expected to fully commence in the first week of February .
The apex bank deputy director for financial markets J Mutepfa made official communication to this effect this Monday afternoon.
It effectively means corporates can trade their USD locally via electronic means.
Some economic analysts submitted that , this development could signal the slow and natural phasing out of the bond balances.