New Zimbabwe Dollar Notes & Coins Explained

Writing in The Herald, Tawanda Musarurwa has sought to clear the confusion around Zimbabwe’s “new” currency which is not “new” currency, set to be introduced within a fortnight.

On Tuesday, Reserve Bank of Zimbabwe (RBZ) governor John Mangudya said the central bank will introduce new banknotes and coins to be used together with the bond notes in the next two weeks.

Mangudya made the remarks at the inaugural press conference for the central bank’s recently commissioned Monetary Policy Committee (MPC).

Later on Tuesday, Finance and Economic Development Minister Mthuli Ncube, during a post-cabinet media briefing seemed to contradict what Mangudya had said earlier in the day.

Ncube said, “this is not a new currency, we already have a currency and it is the Zimbabwean dollar…”.

According to Musarurwa, the “new” currency will have the same value as the old bond notes and coins currently in circulation, as well as the electronic money.

The new notes will be in $2 and $5 banks notes and coins.

More: The Herald


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