Zimbabwe releases ZWL$30 million in new notes

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Takudzwa Chihambakwe

The Reserve Bank of Zimbabwe on Monday released ZWL$30 million in new notes and coins onto the market, an official has said.

ZWL$2 coins and ZWL$5 notes were scheduled to hit the market early on Monday.

However, there was apprehension as a number of banks confirmed not receiving the new money.

Central Bank governor Dr John Mangudya told ZTN News, “Money was released (today) as we stated last week. However, there is a process to be followed.

“Banks had to pick the money from the Central Bank, and that process went on very well. I can confirm that all banks received money today. If you find any bank that says it did not receive money, you can inform me and we will fine them.”

The RBZ will release ZWL$1 billion over the next six months, and this is expected to improve cash availability.