October 29, 2019

New Zim currency in two weeks’ time

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Ndaka Majaka

Zimbabwe will in a fortnight introduce a new currency as part of measures to improve money supply, an official has said.

Reserve Bank of Zimbabwe Governor Dr John Mangudya announced the plan at a media conference in the capital, Harare, on Tuesday.

Dr. Mangudya outlines some of the measures aimed at improving Zimbabwe’s money supply

“The new currency will not be called bond. It’ll just be called dollars and will be 1:1 with the bond notes. . .We are going to increase cash supply over the next six months and coupled with this, we are also reviewing withdrawal limits up.

“We already have bond notes and coins in circulation, but we will now have bond coins of two dollars of currency in circulation.”

More details to follow…

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