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

  • It was determined that the functional currency changed from USD to real time gross settlement (RTGS) dollar.

  • The RTGS dollar is going to be used by all entities, including Government and individuals in Zimbabwe, for the purposes of pricing of goods and services, record debts, accounting and settlement of domestic transactions in Zimbabwe, thereby effectively becoming the functional currency in Zimbabwe with effect from 22 February 2019.

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

  • This is different from the approach taken by the group’s South African parent company, Old Mutual Limited, which treated the RTGS dollar as a functional currency effective from 1 October 2018 at an exchange rate of USD1: RTGS$3.3.

  • The Group however adopted the RTGS dollar as the new functional and reporting currency with effect from 22 February at an interbank midrate of US$1: ZWL2.5 in order to comply with Statutory Instrument 33.

  • From the date of acquisition, the functional currency is considered to be the RTGS dollar, labour and other expenditure are priced and settled in RTGS dollars and the primary economic environment that the entity generates cash flow from operations is Zimbabwe.

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

  • Subsequently, S.I. 142 of 2019 promulgated the Zimbabwe dollar (ZWL) as a currency replacing the RTGS dollar.

  • Statutory Instrument 33 of 2019 (SI 33) issued on 22 February 2019 gave effect to the introduction of the RTGS dollar (ZW$) as legal tender and prescribed that, for accounting and other purposes, certain assets and liabilities on the effective date would be deemed to be RTGS dollars (ZW$) at a rate of 1:1 to the US$ and would become opening RTGS dollar (ZW$) values from the effective date.

  • No waiver of a provision will be deemed to be or will constitute a waiver of any other provision of this MOU II.

Related to RTGS dollar

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

  • United States Dollar and "US$" shall mean the lawful currency for the time being of the United States of America.

  • Euro-Dollar Rate means a rate of interest determined pursuant to Section 2.07(b) on the basis of a London Interbank Offered Rate.

  • Hong Kong Dollar means the lawful currency of Hong Kong.

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

  • U.S. Dollars and “$” each means the lawful currency of the United States of America.

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

  • Euro-Dollar Reserve Percentage has the meaning set forth in Section 2.06(c).

  • Euro-Dollar Reference Banks means the principal London offices of Xxxxxx Guaranty Trust Company of New York, Bank of America, N.A., The Bank of New York, The Bank of Nova Scotia and Citicorp USA, Inc.

  • 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, on any date of determination, (a) with respect to any amount in US Dollars, such amount, and (b) with respect to any amount in any Alternative Currency, the equivalent in US Dollars of such amount, determined by the Administrative Agent pursuant to Section 1.05 using the Exchange Rate with respect to such Alternative Currency at the time in effect under the provisions of such Section.

  • Euros means the currency adopted by those nations participating in the third stage of the economic and monetary union provisions of the Treaty on European Union, signed at Maastricht on February 7, 1992.

  • Euro and “€” mean the single currency of the Participating Member States.

  • 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.

  • Class Currency means the currency in which a Share Class of a Fund is designated as determined by the Directors and disclosed in the Prospectus in relation to such Fund.

  • Hong Kong Dollars or “HK$” means the lawful currency of Hong Kong.

  • Japanese Yen means the lawful currency of Japan.

  • Australian Dollars means the lawful currency of Australia.

  • Quote Currency means the second currency in the Currency Pair which can be bought or sold by the Client for the Base Currency.

  • Alternate Currency means (i) with respect to any Letter of Credit, Canadian Dollars, Euros, Pound Sterling, New Zealand Dollars and Australian Dollars and any other currency other than Dollars as may be acceptable to the Administrative Agent and the Issuing Bank with respect thereto in their sole discretion and (ii) with respect to any Loan, any currency other than Dollars that is approved in accordance with Section 1.05.

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

  • Specified Dollar Amount means the maximum cash amount per $1,000 principal amount of Notes to be received upon conversion as specified in the Settlement Notice (or deemed specified as provided in Section 14.02(a)(iii)) related to any converted Notes.

  • Exchange Rate means, in relation to any amount of currency to be converted into U.S. Dollars pursuant to this Agreement, the U.S. Dollar exchange rate as published in the Wall Street Journal on the relevant date of calculation.