Home Economy Zim not ready to introduce new currency to replace bond notes

Zim not ready to introduce new currency to replace bond notes

215
0

Zimbabwe Finance and Economic Development Minister Mthuli Ncube said the government was not prioritising the issuing of new banknotes and coins to replace the surrogate currency bond notes and coins that were introduced in 2016.

This is after a statement cited by Ncube stating that Zimbabwe will soon introduce new banknotes and coins.

He said the process was still in progress and the government would officially inform people when they have concluded.

“The Zim dollar as things stand is basically bond notes, RTGS and bond coins; that is the official position; that is where we are right now. When we are ready to do anything else we will let you know.”

“There is a process for introducing additional cash into the market, as determined by demand. There is a formula and scientific approach of doing it, which the Reserve Bank of Zimbabwe uses,” said Ncube.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here