Mangudya says foreign currency in bank accounts will not be converted to bond notes
In a phone interview with the Herald yesterday, Reserve Bank of Zimbabwe Governor Dr John Mangudya said that foreign currencies in bank accounts will not be converted to bond notes when they are finally introduced.
Mangudya’s assurance comes amid reports that some shops were no longer accepting plastic money for fear that their money would be converted to bond notes when they are introduced in due course.
He said,
There is no relationship between plastic money and bond notes. The two are, instead, alternatives. It is the role of the media to also clarify that there would be no notes accounts and there would be no conversion. Any money in the accounts can be spent through plastic money.
At the weekend Mangudya said the introduction of bond notes early next month was still on course with massive educational national awareness campaigns expected to start on October 31 countrywide.
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