(Last Updated on January 12, 2021 by GERALD NCUBE)
HARARE – The Reserve Bank of Zimbabwe has confirmed that it will be introducing new Z$50 notes into the circulation while reiterating that for the time being, there are no plans to also introduce higher denominations.
This follows some reports which recently claimed that the central bank was to soon introduce Z$50, Z$100 and Z$200 banknotes into the market.
“The Reserve Bank of Zimbabwe (the Bank) is working on the introduction of Z$50 banknote into the market for the convenience of the public.
“For the time, the Bank has no plans of introducing Z$100 and Z$200 banknotes as suggested by some sections of the media,” read a statement from the RBZ Governor John Mangudya.
Zimbabweans have been forced to move around with large chunks of money for transacting purposes as the country grapples with inflation.
As of now, the highest denomination in the country is Z$20 yet a loaf of bread costs close to Z$90.