RBZ suspected of removing US dollars to create demand for Bond Notes

Posted by Onesimo

A report in the Fingaz today says that the RBZ may be sucking out small notes US dollars from the market in an attempt to create demand for Bond Notes to be introduced in October.

ZIMBABWE’S fragile economic situation is lurching towards fresh depths amid indications that small United States dollar denominations are disappearing from circulation, thereby raising the possibility of a change crisis, the Financial Gazette can exclusively report.
The development has triggered speculation of a conspiracy to mop up the small denomination US dollar notes to pave way for the planned introduction of bond notes of similar denominations by the Reserve Bank of Zimbabwe (RBZ) at the end of next month.
The RBZ and Zimbabwe Banker Association didn’t comment on the matter.


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