RTGS dollar definition

RTGS dollar means any funds held as bank deposits under the Real Time Gross Settlement system established in terms of the National Payment Systems Act [Chapter 24:23];
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RTGS dollar means any funds held as bank deposits under the Real Time 25
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Examples of RTGS dollar in a sentence

  • The Zimbabwean government’s Transitional Stabilisation programme, which seeks to achieve macro-economic stability, among other objectives, has seen the recent introduction of a local currency, the RTGS dollar, and the end to a multi-currency system.

  • This change was applied prospectively and an estimate of 1 RTGS dollar to 4.35 ZAR was used as the exchange rate to translate the results, net assets and cash flows of the Group’s businesses in Zimbabwe in the 2018 financial statements.

  • Above average demonstration by the Applicant of the relevant ability, understanding, experience, skills, resource, and quality measures required to deliver the Project.

  • The impact of this was that the RTGS dollar became the Zimbabwean functional currency.

  • The currency giving rise to the currency risks is primarily the South African Rand (ZAR) and the RTGS dollar (ZWL).

  • Due to this change being at the end of the reporting period, we have continued to reference RTGS dollar in our interim results.The impact of applying the hyperinflationary provisions of IAS 21 in the current year was a decrease in the Group’s profit after tax of R493 million reflecting the difference in applying the average vs the closing exchange rate.

  • On 20 February 2019 the Reserve Bank of Zimbabwe (RBZ) announced that the RTGS dollar would be recognised as an official currency and that an interbank foreign exchange market would be established to formalise trading in RTGS dollar balances with other currencies.

  • On 1 October 2018, following the directive issued by the RBZ, the RTGS dollar was adopted as the functional and presentation currency of AOP.

  • The most significant exposure is to the Mauritian Rupee, the Botswana Pula, the Zimbabwean Real Time Gross Settlement (RTGS) dollar and the United States Dollar (US Dollar).

  • The closing rate used to translate the December 2018 results was 1 RTGS to 4.35 ZAR.By way of background, the Group applied a change in functional currency from the US dollar to the Real Time Gross Settlement (RTGS) dollar in respect of our businesses in Zimbabwe on 1 October 2018.

Related to RTGS dollar

  • U.S. Dollar or “$” means the lawful currency of the United States of America.

  • Hong Kong Dollar or “HK$” or “HKD” means the lawful currency for the time being and from time to time of Hong Kong.

  • Dollar and “$” mean lawful money of the United States.

  • Canadian Dollar means the lawful currency of Canada.

  • Australian Dollar means the lawful currency of Australia.

  • Euro-Dollar Loan means a Committed Loan which bears interest at a Euro-Dollar Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election.

  • Index Currency means USD.

  • U.S. Dollar Equivalent means with respect to any monetary amount in a currency other than U.S. dollars, at any time for determination thereof, the amount of U.S. dollars obtained by converting such foreign currency involved in such computation into U.S. dollars at the spot rate for the purchase of U.S. dollars with the applicable foreign currency as published in The Wall Street Journal in the “Exchange Rates” column under the heading “Currency Trading” on the date two Business Days prior to such determination.

  • Euro and “EUR” mean the lawful currency of the Participating Member States introduced in accordance with the EMU Legislation.

  • Euro-Dollar Business Day means any Domestic Business Day on which commercial banks are open for international business (including dealings in dollar deposits) in London.

  • Dollars or $ means the lawful currency of the United States.

  • Exchange Rate means, on any day, with respect to the applicable Permitted Foreign Currency, the rate at which such currency may be exchanged into dollars, as set forth at approximately 11:00 a.m., London time, on such day on the Reuters World Currency Page “FX=” for such currency. In the event that such rate does not appear on any Reuters World Currency Page, then the Exchange Rate shall be determined by reference to such other publicly available service for displaying exchange rates as may be agreed upon by the Administrative Agent and the Borrower or, in the absence of such agreement, such Exchange Rate shall instead be the arithmetic average of the spot rates of exchange of the Administrative Agent in the market where its foreign currency exchange operations in respect of such currency are then being conducted, at or about 10:00 a.m., London time, on such date for the purchase of dollars for delivery two Business Days later; provided that if at the time of any such determination, for any reason, no such spot rate is being quoted, the Administrative Agent, after consultation with the Borrower, may use any reasonable and customary method it deems appropriate to determine such rate, and such determination shall be presumed correct absent manifest error.