Home LOCAL NEWS Govt says “Coins, Notes still legal tender”

Govt says “Coins, Notes still legal tender”

Mthuli and Mangidya's 25C, 50C Coins Rejected, $1 Coin Next?

Bond coins and bond notes are still legal tender, Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa reiterated yesterday and traders are legally obliged to accept them.

“Government notes with concern that there are some sections of the market that are rejecting bond notes and coins. Notes inscribed ‘bond notes’ are being rejected in preference for those inscribed ‘dollars.’

Government through the Ministry of Finance and Economic Development will be substituting bond notes with new notes through a gradual process,” said Minister Mutsvangwa.

“In the meantime Government advises the public that the $2 and $5 bond notes are still legal tender in this country and therefore calls upon the business sector not to reject them. As just been announced by Reserve Bank of Zimbabwe Governor, Dr John Mangudya, all business owners, shopkeepers, tuck shop owners and even individuals are free to exchange the bond notes with new notes through their banks.”

Under normal circumstances, when currency notes are deposited in banks fairly frequently, banks remove worn and soiled notes and send them to the Reserve Bank for destruction. When notes or coins are demonetized, notice has to be given in the Government Gazette and a reasonable time is always given for holders to bank these while they are still valid, or even in a set time after demonetization.

Turning to the Covid-19 update, Minister Mutsvangwa implored churches to observe measures announced by the Government that includes social distancing and not to converging beyond 50 congregants.

Trending On Zimetro. . .

Chicks Smuggled from South Africa into Zimbabwe Thrown Into The Fire

19 600 day-old chicks that had been smuggled from South Africa into Zimbabwe across the Limpopo River were confined to the flames by authorities.

On Tuesday police intercepted and arrested Admire Ndlovu of Mwenezi and Prince Gumbo of Dulivhadzimu suburb in Beitbridge who were…full details

Trending On ZIMetro News. . .

  Conman ‘Teemak’ now in therapy; bishop father to pay off his Ponzi scheme victims HARARE – A 23-year-old man who duped dozens of Zimbabweans dotted around the globe through a Ponzi scheme is currently undergoing therapy, his sister has said. Conman 'Teemak' now in therapy; bishop father to pay off his Ponzi scheme victims Namatai Marygrace Chipunza took to Facebook in the aftermath of news reports exposing the self-proclaimed millionaire Taona Oswald Chipunza – known among socialites as Teemak...read more