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Zimbabwe to roll out new higher denomination bond notes

Zimbabwe to roll out new bond notes

State media say there are plans to release higher-denomination bond notes following the recent release of five dollar bond notes.

FILE: A man holds bond notes released by the Reserve Bank of Zimbabwe in Harare central business centre in 2016. Picture: AFP

HARARE – State media in Zimbabwe say there are plans to release higher-denomination bond notes following the recent release of five dollar bond notes.

Reports say the new notes were only meant to be in small denominations to prevent the kind of cash hoarding and black market activity that rendered the previous currency worthless.

The bond notes were introduced by presidential decree and started to circulate in November.

So far there’s a one-dollar bond coin and notes of two and five dollars and Zimbabweans thought the authorities would keep to that.

But state media is reporting on Wednesday that 10 and 20-dollar notes will be gradually rolled out.

The Herald slipped this news into a story about former vice president Joice Mujuru who’s gone to court to challenge the introduction of the bond notes.

Some shops already offer lower prices for those willing to pay in US dollars while those who can’t, pay more.

(Edited by Zamangwane Shange)

Source :

Eye Witness news

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