The Reserve Bank of Zimbabwe (RBZ) will in the next two weeks introduce new notes to be interchangeably used with the already circulating bond notes and coins in a move expected to ease the cash crisis facing the country since 2016.
Sylivia Changachirere
The latest development was revealed by RBZ Governor Dr John Mangudya in the capital this afternoon.
The injection of new currency notes into the economy which will see an upward review of daily cash withdrawals while curbing high premiums charged on people looking cash on the streets.
Briefing the media after the inaugural meeting of the Monetary Policy Committee (MPC) today, Dr Mangudya said the Central Bank would introduce new two and five dollar notes that will be used alongside the bond notes and coins.
Dr Mangudya said RBZ was ready to print higher denominations than the twos and fives in due course.
“Within the next two weeks, we will be releasing the new currency notes in the economy and by releasing this money it will to help in the market so that we do not starve the market with cash,” said RBZ Governor John Panonetsa Mangudya.
Dr Mangudya said the move will also see the review of daily withdrawals limits from banks.
“We want to revise limits so that we can help people not to pay more premiums for them to get cash,” said Dr Mangudya.
