Mthuli Ncube To Fight High Court Ruling That Invalidated Conversion Of USD Balances Into RTGS

Mthuli Ncube To Fight High Court Ruling  Mthuli Ncube To Fight High Court Ruling   Minister of Finance and Economic Development Mthuli Ncube has said that the government will fight the High Court judgement which ruled that the conversion of USD bank balances to RGTS was invalid. High Court judge Justice Zhou ruled that the …

Breaking News: High Court Says USD Debts Must Be Paid In USD

High Court Says USD Debts Must Be Paid In USD     In a potentially far-reaching judgment, the High Court has declared INVALID the RBZ Exchange Control Directive No. R120/2018. The directive which created FCA “nostro” accounts (as distinct from “RTGS” accounts) was declared unconstitutional on the grounds that it’s irrational to change the currency …