The Zimbabwe School Examinations Council (ZIMSEC) has raised the official RTGS Interbank rate to be applied for the June 2024 Ordinary and Advanced Level as well as the Grade 6 and 7 examination fees paid in Zimbabwean Dollars (ZWL). The raise in the Official RTGS Interbank rate comes barely a week after ZIMSEC had announced the official rate to be used.
What is the new official RTGS Interbank Rate following the raise?
Students and parents who want to pay for the June 2024 Ordinary and Advanced Level as well as the Grade 6 and 7 examination fees will now be required to use the new official rate of ZWL 18,981 to 1 USD. The rate previously stood at ZWL 17,558 to 1 USD.
It is important to note that the new rate will only apply for payments made in Zimbabwe Dollars between the period 19 March 2024 to 26 March 2024.
The previous ZWL 17,558 to 1 USD was only valid for payments made in ZWL from March 13 to March 20, 2024.
Payment Instructions
It is important to note that payments for examination fees should not be made directly into ZIMSEC accounts by individual parents. Instead, candidates or parents should make payments to the school or centre of registration, which will then forward the funds to ZIMSEC. This process is in place to ensure proper accountability and tracking of payments.
Official statement
In a statement released on Tuesday, 19 March, ZIMSEC said,
“The Zimbabwe School Examinations Council would like to inform its stakeholders, parents/ guardians, and candidates of the Interbank rate which shall apply when making ZWL payments for the 2024 June Ordinary and Advanced level and Grade 6 and Grade 7 Examination Fees.
“Fees are pegged in USD however they are accepted in the currency which the parents/ guardians are comfortable with. Parent who wish to make payments in USD or Rands are able to do so until the registration closing dates. Those who would like to make payments in ZWL will use the rate communicated herein.
“Parents/ Guardians who wish to pay registration fees in Zimbabwe Dollar (ZWL) are able to do so during the window of 19 March to 26 March 2024. The interbank rate of 19 March 2024 will be used dtuing this period to ensure that all candidates pay a uniform registration fee.
“The exchange rate to be applied for payments is ZWL18 981 to 1 USD.
“Payment period 19 March to 26 March ONLY.
“Payments for the examination fees should NOT be paid directly into ZIMSEC accounts by individual parents. Candidates/ Parents should make payments to the school or centre of registration for forward remission to Z1MSEC.
“Candidates, parents and guardians are encouraged to contact their respective Centres for registration closing dates to avoid any Inconvenience.”
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