By Lloyd Takawira
The Reserve Bank of Zimbabwe (RBZ) has announced that it is going to release higher denomination bank notes will come into circulation next week.
In a statement the RBZ said it will be introducing new $10 and $20 notes to improve cash circulation.
“The RBZ wishes to advise the public that the $10 and $20 dollar banknotes issued on 14 May 2020 through Statutory Instrument 103A of 2020, will come into circulation as follows:
The $10 banknote will commence circulating on Tuesday 19 May 2020; and
The $20 banknote will be in circulation by the first week ofJune 2020.
The RBZ also said, that they will be unveiling the features of the new notes
“The features of the said banknotes will be publicised prior to the circulation of the banknotes.”
Meanwhile, Central bank also, announced that it is raising the minimum withdrawal from $300 to $1000 .
“The Bank also advises that it has revised withdrawal limits upwards from $300 per week to $1000 per week with effect from 19 May 2020. Banks have been directed to ensure that the withdrawal limits are strictly observed. The Bank will not tolerate any abuse of currency and will decisively deal with any such abuse in terms of the law.”
