Black Market Rates Drop Ahead Of Zimbabwean Dollar Introduction

There was a bit of confusion in the parallel market yesterday as most people didn’t seem to know what rate to buy at. Naturally, the few people that were buying started paying less than what people were paying on Friday.

Rates according to Marketwatch

It makes sense

It makes sense that rates are going to drop a little due to the introduction of the Zimbabwean dollar cash bills. Part of the higher rates that traders pay in RTGS include a cash-out premium.