A shortage of foreign notes led Reserve Bank governor John Mangudya to announce a raft of measures, including shutting ATMs and limiting bank withdrawals to $1,000 or R20,000.
The cash shortage is a result of the balance of payments becoming critically unbalanced, with imports far outstripping exports.
Zimbabwe cannot print US dollars, the predominant currency.
Bond "coins" were introduced in 2014 to tackle the problem of small change.
The new notes, in denominations of $2, $5, $10 and $20 will play a similar role.
No comments:
Post a Comment