New notes coming Monday: what is the expected impact?

Business Top Stories Zimbabwe

Ndaka Majaka

THE first batch of Zimbabwe’s new two and five-dollar bank notes are set to be issued on Monday next week, the Reserve Bank of Zimbabwe (RBZ) governor has said.

RBZ chief, Dr John Mangudya told ZTN that along with the new two-dollar bond coin, the notes are set to be disbursed next week.

The central bank has released prototypes of the notes and the coin’s features. The new coin and notes will circulate alongside and interchangeably.

This follows a pronouncement made in the 2019 Monetary Policy Statement and recommendations from the Monetary Policy Committee that the country needs to increase the level of physical cash in circulation to ease liquidity challenges.