Treasury To Introduce Larger Denominations Of Banknotes, More Cash

The Ministry of Finance and Economic Development says it plans to introduce bigger denominations of banknotes into the market in the near future.

This was revealed by the permanent secretary in the Finance Ministry George Guvamatanga on Friday. He said:

Larger denominations are on the way. We want to manage the money supply. We are aware the money isn’t adequate and this will be addressed.

Earlier this month, the Reserve Bank of Zimbabwe (RBZ) released new $5 notes and $2 notes and coins to address the biting cash crunch.

However, market watchers have queried the wisdom of introducing small denominations as the country is battling 3-digit inflation.

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