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Govt set to introduce higher denomination notes

BOND NOTES :DEALERS COUNTING LOSSES

Govt set to introduce higher denomination notes. A member of the RBZ’s MPC Eddie Cross said the new notes would soon hit the market after lengthy deliberation by the authorities.

The Reserve Bank of Zimbabwe is expected to introduce higher denomination notes, which will see the amount of physical cash in circulation double to $3 billion.

This was after the realisation that there are more US dollars in the economy than local currency. Cross also said the country has a physical surplus of Rands which are sold monthly back to the South African Reserve Bank.

More to follow…

Source | Bulawayo24

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