ZIMBABWE through its Reserve Bank has introduced new banknotes in $10 and $20 notes which are set for circulation next week.
According to the Reserve Bank of Zimbabwe (RBZ) the $10 notes will start circulating on Tuesday the 19th of May while the $20 notes at the beginning of June.
The bank in a statement notified the public about the new notes which reportedly arrived in the country yesterday from Germany.
“The Reserve Bank of Zimbabwe (the bank) wishes to advice the public that the $10 and $20 dollar banknotes issued on 14 May through Statutory instrument 103A of 2020, will come into circulation as follows: The $10 banknote will commence circulation on Tuesday 19 May 2020; and the $20 banknote will be in circulation by the first week of June 2020,” said RBZ governor Mr John Mangudya.
He said the features of the new banknotes will be publicized prior to the circulation of the banknotes.
“The bank also advises that it has revised withdrawal limits upwards from $300 per week to $1 000 per week with effect from 19 May 2020. Banks have been directed to ensure that the withdrawal limits are strictly observed. The bank will not tolerate any abuse of currency and will decisively deal with any such abuse in terms of the law,” Mr Mangudya said.
Meanwhile, many Zimbabweans are struggling to access their money is cash at banks which has resulted in long queues with some people sleeping at the banks in order to get their money.
Most Zimbabweans have lost interest in the Zimbabwe dollar and have opted to using the United States of America (USD) dollars and the neighboring South African Rand which is easily accessible on the parallel market at different rates depending on the amount of money one wants.
New Zimbabwe $10 and $20 Bank notes Features
Herewith the New Note designs. pic.twitter.com/lC8zaTpO2I
— Nick Mangwana (@nickmangwana) May 15, 2020
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