"Coins Aren't Convenient To Carry," As Banks Give $300 Worth Of Coins
Banks in Zimbabwe have today been giving depositors a total of ZW$300 as per the new directive by the central bank, the Reserve Bank of Zimbabwe.
Although raising the withdrawal limit is a welcome development, account holders argue that coins which banks are issuing are giving them a new burden.
One CBZ account holder who spoke to New Zimbabwe had this to say:
I have been in the queue since 6 am. I was expecting to withdraw all my salary, but I have just been given $300 worth of coins.
These coins are not convenient to carry. Now, I am moving around with a plastic bag full of coins.
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A snap survey by New Zimbabwe observed that some commercial banks were issuing $5 notes and $2 coins.
Whilst authorities project that the new notes and coins will diminish the cash crisis, some analysts argue that excess cash in the market is likely to worsen inflation in the country and the public reaction towards coins is doing less to help the situation.
More: New Zimbabwe
