Peterhouse now charging fees in Units convertible at the prevailing RBZ interbank rates

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Due to the continued deterioration of the Zimbabwe RTGS dollars, the Peterhouse group of schools has resorted to charging school fees in what they call Peterhouse Units(PHU).

This was outlined in a communique sent to parents this week inviting parents to a meeting to approve the new school fees structure.

In a statement the Peterhouse said that its Executive Committee ( Exco) had concluded that due to the difficulty in predicting the economic environment, the school had indexed its fees to the Peterhouse Unit.

Fee statements will now be issued in PHUs with payments converted to PHU’s at the RBZ average US$ rate on the day that the funds are received. A day scholars PHU index is at PHU1.690 and converting with the current USD rates this means a parent will have to part with RTGS$16,900.00 per term.

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