Mangudya denies that RBZ will introduce $10 and $20 bond notes

Reserve Bank of Zimbabwe governor John Mangudya has refuted claims that the Reserve Bank is going to introduce bond notes in bigger denominations such as $10 and $20. After the Constitutional Court rejected Joice Mujuru’s second challenge on bond notes, state media reported that the government was expected to introduce higher denomination bond notes soon.

Speaking to the Daily News on Sunday, Mangudya said:

It’s not true that we are working on $10 and $20 bond notes.

The Reserve Bank introduced bond notes last year to alleviate cash shortages, and according to reports from the central bank, so far there is $94 million worth of bond notes in circulation.

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