New Zimbabwe Dollar Notes Are ‘Easy’ To Counterfeit – Cross

A member of the Reserve Bank of Zimbabwe (RBZ) Monetary Policy Committee, Eddie Cross, said that the new banknotes to be released soon do not have adequate security features.

Cross revealed that the security inadequacies on the new notes is the reason why small denominations will be issued to disincentivise would-be counterfeiters. He said:

The reason for the relatively small notes — the $5 and $2 notes and coins — is because we were concerned about the security features.

The security of these notes is not adequate and if we introduce a higher value note there will be counterfeit notes produced.

The RBZ will on November 11, 2019, release new Zimbabwe Dollar notes and coins onto the market.

The notes come in $2 and $5 denominations while $2 bond coins will also be released into circulation concurrently.

More: The Sunday Mail

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