The Reserve Bank of Zimbabwe has urged banks to stop importing high denomination notes in order to guard against externalisation. The central bank wants all banks to stop importing $100 and $50 notes. The country is facing a severe shortage of foreign currency and there is a cash crisis.
Speaking to the Sunday Mail, RBZ deputy governor Kupukile Mlambo said:
We don’t want to see them (100 US notes) actually and we have discussed with the banks and they have agreed… If you see [them], it’s maybe because someone went to the US and came carrying them.”
Banks are not importing 100, even 50 US notes.
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