Scarcity Of Bond Notes Creating Arbitrage Opportunities

The scarcity of bond notes in the economy has created an opportunity for unscrupulous individuals to exploit citizens, with the notes being sold at high premiums.

Those with ready access to the notes, such as transport operators, EcoCash agents, tuck-shop owners and fuel dealers are now selling the notes to the public at exorbitant markups as high as 35 per cent for every transaction.

Since the banning of the multi-currency system, some businesses now refuse to accept electronic payments, demanding cash instead.

Electronic payments are not popular due to the high transaction charges like the two per cent transaction tax, transfer fees and several other related fees.

More: ZBC News

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Bond Notes

Bond Notes are a currency of notes backed by a bond that the Zimbabwe government announced on 4 May 2016 by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya. The $2 denomination of the notes was finally introduced on 28 November 2016. More notes were... Read More About Bond Notes

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2 comments on “Scarcity Of Bond Notes Creating Arbitrage Opportunities

  1. What is unscrupulous about a business opportunity? Charging what the market can bear is a bona-fide pricing strategy…since when gas it changed? The price of a scarce commodity in high demand is always high. We thought the reading for reintroduction of the Zim dollar was to among other things manage money supply. So are the wheels coming off already? Shame.

  2. Ordering sole use of the local currency without first ensuring availability of the currency is just typical isn’t it?!!

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