You are currently viewing our desktop site, do you want to visit our Mobile web app instead?
 Registered users can save articles to their personal articles list. Login here or sign up here

Zimbabwe to introduce first Zimbabwe dollar notes in November

The new notes should reduce queues at banks and afford people adequate cash for daily use.

Zimbabwe will put the first notes of its reintroduced currency into circulation in November, said Eddie Cross, a member of the central bank’s Monetary Policy Committee.

Zimbabwe has been chronically short of paper cash, forcing most transactions onto electronic platforms such as mobile-money system Ecocash.

“We have insufficient cash in the system to meet people’s needs for transactions,” Cross told the Zimbabwe Broadcasting. The new notes “should do away with the queues at the banks and people then should have adequate money for daily use.”

The Zimbabwe dollar was reintroduced in June in electronic form after being abolished in 2009 following a bout of hyperinflation.

© 2019 Bloomberg L.P.

Get access to Moneyweb's financial intelligence and support quality journalism for only
R63/month or R630/year.
Sign up here, cancel at any time.

COMMENTS   3

To comment, you must be registered and logged in.

LOGIN HERE

Don't have an account?
Sign up for FREE

What parts of meanings of the words Trust and Confidence do these “economists” not understand? No one will use the money you print.
You’ve ruined a great country, humble yourselves, get rid those who have engineered this and get help and advice from people who have the skills to rectify it. Employ them.

They better leave a lot of space for the plethora of zeroes that will likely follow…

Where’s Malema when Zimbabwe need someone to talk up the economy?

Load All 3 Comments
End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR

Podcasts

SHOP NEWSLETTERS TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company: