The Zimbabwe Republic Police (ZRP) has said 102 business operators have been arrested for rejecting bond notes and coins under an operation code-named “Accept Zimbabwe currency”.
In a press statement, police spokesperson Assistant Commissioner Paul Nyathi warned businesses against rejecting notes and coins saying those doing so risk being arrested. Nyathi said:
<blockquote>The Zimbabwe Republic Police reiterates that traders and business entities who continue to refuse to accept Zimbabwe currency, bond notes and coins as legal tender in business transactions risk being arrested and taken to court for the law to take its course.
… A total of 102 suspects have been arrested with 28 appearing in court in Harare.</blockquote>
Recent reports indicate that some informal traders and small-scale retailers are refusing to accept bond coins, $2 and $5 notes.
Nyathi urged members of the public to continue reporting businesses that refuse to accept bond notes which remain a legal tender.

Pindula News

102 Retailers Arrested For Rejecting Zimbabwe Dollar, Bond Notes

The Confederation of Zimbabwe Retailers (CZR) has condemned retailers and wholesalers that are refusing to accept bond notes and coins to force customers to buy using foreign currency.
CZR president Denford Mutashu warned traders against rejecting the national currency saying law enforcement agencies should arrest the culprits. Said Mutashu:
<blockquote>CZR has noted with serious concern, the sudden rejection of bond coins and notes in the denomination of ZWL$2 and ZWL$5 notes by selected traders, retailers and wholesalers in the market.
As an association, we would like to advise the retails sector that it is against the law to reject a national currency that is legal tender.
CRZ call upon law enforcement agencies to help install discipline on the matter as the public has been left exposed. The public and business are discouraged from stifling cash circulation by hoarding large amounts for speculative tendencies.</blockquote>
Mutashu accused shops that are rejecting the coins and notes of actively fueling the forex parallel market thus contributing to the destruction of confidence in the local currency.
He, however, called for policy consistency on currency to safeguard business and consumers.
<h4>More: <a href="https://www.sundaynews.co.zw/shops-fueling-black-market/" rel="noopener noreferrer" target="_blank">Sunday News</a></h4>

Retailers' Association President Condemns Shops Rejecting Bond Cash

The Zimbabwe Republic Police (ZRP) has warned businesses against rejecting $2 and $5 bond notes and coins, saying the notes and coins are still legal tender and those found disregarding the country’s laws will be dealt with.
This was said by national police spokesperson Paul Nyathi following reports that retailers and suppliers have started rejecting the coins and notes, demanding, instead, to be paid in the United States (US) dollar. Said Nyathi:
<blockquote>The Zimbabwe Republic Police has noted with concern that some business people, especially informal traders, are refusing to accept local currency coins, $2 and $5 notes, which is legal tender.
The police will not hesitate to enforce the law on anyone found to be disregarding the country’s laws, especially during this lockdown period.
The public is again urged to report such errant people for swift action to be taken.</blockquote>
Meanwhile, a Habakkuk Trust Community Advocacy Action Team convener Shakespeare Ndlovu has blamed the illicit trading practices prevalent in the retail sector on the government’s inconsistency in the implementation of monetary measures.
<h4>More: <a href="https://dailynews.co.zw/panicky-retailers-reject-bond-notes/" rel="noopener noreferrer" target="_blank">Daily News</a></h4>

ZRP Warns Businesses Against Rejecting Bond Notes & Coins

The Reserve Bank of Zimbabwe (RBZ) John Panonetsa Mangudya has reiterated that bond coins and notes are still legal following numerous reports that some traders are no longer accepting them.
In an exclusive interview with ZBC News, Mangudya urged members of the public to treat as fake news social media reports claiming that bond notes are no longer acceptable. He said:
<blockquote>People should have trust with our money, it is disheartening for some people to spread such lies and misinforming the public, I have seen some women circulating information that the bonds notes are no longer acceptable, this is fake news which should not be accepted because the notes still have its value.
My assurance is that the bond notes are still legal tender, the two, five, ten and twenty notes are still legal tender which can be used interchangeably.
I am aware the money is acceptable in all big shops, while those who are nearer to the banks can go and deposit and get new notes.</blockquote>
Finance and Economic Development Minister, Mthuli Ncube recently told Parliament that bond notes remain a medium of exchange but will be phased out gradually and replaced by the new notes.
The rejection of bond notes and coins by shops and businesses gathered pace after the government announced measures to partially redollarise the economy.
<h4>More: <a href="https://www.zbcnews.co.zw/bond-notes-still-legal-tender-dr-mangudya/" rel="noopener noreferrer" target="_blank">ZBC News</a></h4>

Bond Coins, Notes Still Legal Tender - Mangudya

Small-scale retailers have started rejecting coins, $2 and $5 bond notes, demanding, instead, to be paid in foreign currency.
Shops in downtown Harare are refusing to accept the $2 and $5 notes, with the inscription bond note on the top right corner on the pretext that the same are being rejected where they buy foreign currency to import goods.
Farmers at Mbare Musika are also reportedly rejecting the notes and coins saying they had failed to buy even food items to eat using the $2 and $5 bond notes.
In Matabeleland Provinces, Habakkuk Trust Community Advocacy Action Teams have noted a similar trend.
A Habakkuk Trust Community Advocacy Action Team convener Shakespeare Ndlovu claimed that not only are shops refusing to accept payment in the local currency, but some are overpricing goods to dissuade members of the public from paying in local currency. Said Ndlovu:
<blockquote>In Matobo ward 11, shop owners are demanding forex for essential goods like mealie meal, sugar. In some parts of Nkayi District, it has been reported that shop owners are refusing $2 and $5 bond denominations alleging that they have since expired.
In the meantime, community members in Matobo ward 19 have lamented the unprofessional conduct displayed by shop owners as they are reportedly charging exorbitant prices to deter consumers from paying in local currency. Some products cost almost twice as much in local currency in order to force people to use the rand.</blockquote>
Meanwhile, the Reserve Bank of Zimbabwe (RBZ) has introduced, with effect from today, a dual pricing system, which will see retail shops pegging their prices in both the local currency and US dollar at the prevailing market rate.
<h4>More: <a href="https://dailynews.co.zw/panicky-retailers-reject-bond-notes/" rel="noopener noreferrer" target="_blank">Daily News</a></h4>

Small-scale Retailers Reject Bond Cash

The RBZ has released the following statement which emphasises that all notes and coins are still a legal tender in the country. Read the full statement below:
<blockquote>
PRESS STATEMENT ON THE USE OF BANK NOTES AND COINS 
The Bank would like to advise the public that the notes and coins issued by the Bank and currently in circulation are still legal tender.
For the avoidance of doubt, the notes and coins which are legal tender are bond coins, bond in notes $2 and $S and banknotes in denominations $2, $5, $10 and$20.
The Bank would also like to urge members of the public who wish to exchange coins and old notes for new ones to do so through their banks which are mandated to serve their custorners.
John P Mangudya Governor 
19 June 2020</blockquote>
The statement come amid reports that vendors and some informal traders are refusing $2 notes and coins from their customers.

FULL TEXT: All Notes And Coins Issued By The Bank Are Still Legal Tender - RBZ

Finance and Economic Development Minister Mthuli Ncube has pleaded with business not to reject coins and those notes inscribed “bond notes” saying they were still legal tender.
Ncube was responding to legislators in Parliament on Wednesday after they had complained that traders were rejecting small denominations as well as $2 and $5 notes that were inscribed “bond notes”. Said Ncube:
<blockquote>We want to make it clear that $2 notes are still legal tender. Perhaps we need to issue a press statement to that effect. But we will be substituting those bond notes with new notes but it is a gradual process.</blockquote>
Yesterday the government announced that civil servants and Government pensioners will get an immediate 50 per cent pay rise for the next three months.
The package also includes a flat non-taxable US dollar-denominated COVID-19 allowances of US$75 a month for each civil servant, regardless of grade, and US$30 a month for Government pensioners.
The development came a few hours after nurses at Parirenyatwa Group of Hospitals, the country’s main referral hospital located in Harare had staged a demonstration in response to a salary cut.
<h4>More: <a href="https://www.herald.co.zw/civil-servants-get-pay-rise/" rel="noopener noreferrer" target="_blank">The Herald</a></h4>

Bond Notes And Coins Are Still Legal Tender - Mthuli

Reserve Bank Governor, Dr John Mangudya has said that Zimbabweans have gone through a difficult time this year which can be made easy by improving foreign currency supply.
He made these remarks during an interview with News Day Business reporter, Tatira Zwinoira during which he discussed plans to stabilise the Zimbabwe dollar which was reintroduced this year.
Responding to Zwinoira’s question on the quantity of foreign currency that is enough to sustain the local currency, Mangudya said that the country needs about US$520 million on a monthly basis but is currently earning around US$490 million.
He also emphasised on the importance of citizens’ confidence in the currency reforms which the government is implementing saying that it does attract foreign currency. He added:
<blockquote>I am hopeful that what the Zimbabweans have gone through over the year which has been difficult cannot continue under that context.
If you get more money from the exports and that from the diaspora and if we get more money from the letters of credit and money from the finance, we can bridge that gap of about US$30 million very easily.</blockquote>
Zimbabwe has a foreign currency deficit, a scenario which is not encouraging considering that most of the commodities in the country are imported.
More: <a href="https://www.newsday.co.zw/2019/12/were-trying-to-stabilise-the-zimdollar-mangudya/">News Day</a>

"Zimbabweans Have Gone Through A Lot This Year," RBZ Governor

Buhera South legislator <a href="https://www.pindula.co.zw/Joseph_Chinotimba">Joseph Chinotimba</a> yesterday made fresh calls for people who are pro-sanctions to be jailed because their divisive politics were hindering the country’s growth, Newsday reports.
Speaking in Parliament Cde Chinos as he is affectionately known said:
<blockquote>This country is now in tatters because of people who are senior politicians who go to Britain, Germany and the United States to (throw spanners in the works) so that there is no development in this country. I suggest that now we must craft a law to ensure that such people are jailed with stiff penalties.</blockquote>
According to the publication, Chinotimba also said <a href="https://www.pindula.co.zw/Kombi">kombis</a> were now refusing to take $1 and 50cents bond coins because of the opposition.
More: <a href="https://www.newsday.co.zw/2019/12/craft-laws-to-jail-pro-sanctions-politicians-chinotimba/">Newsday</a>

This Country Is Now In Tatters Because Of People Who Go To Europe And The US And Ask For Sanctions - Chinotimba

Reserve Bank governor, John Panonetsa Mangudya has said that members of the general public must not panic over the rejection of coins by businesses.
Mangudya said that the development was common cause worldwide whenever there is inflation. He said:
<blockquote>It is common cause throughout the world that high levels of inflation make small denominations uneconomic to use. It is in this context that some businesses now find it bulky to transact in small value coins. 
To ensure that the public does not lose value for their money, we are encouraging all businesses and the public to bank their coins so that they do not encounter the inconvenience that they may be facing from conducting business with bulky small denomination coins.</blockquote>
He also said that the coins can be exchanged for bigger denominations at the banks.
Zimbabwe has a cash crisis but the inflation has compelled businesses and farmers to reject 1 cent, 5 cents, 10 cents, 25 cents and 50 cents coins while some are threatening to reject the $1 coin if inflation continues to rise.
Coins amount to $80 million in circulation, $42,7 million of which is in 1 cent, 5 cents, 10 cents, 25 cents and 50 cents.
More: <a href="https://www.herald.co.zw/dont-panic-over-coins-rbz-chief-mangudya/">The Herald</a>

RBZ Advises The Public As Businesses And Farmers Reject Coins

Some small-scale traders in Harare are now rejecting <a href="https://www.pindula.co.zw/Zimbabwe%27s_2014_Bond_Coins" rel="noopener noreferrer" target="_blank">bond coins</a> due to runaway inflation which has caused counting them a laborious exercise.
A bus conductor who spoke to a Harare tabloid, H-Metro, said he accepts the coins so he won’t lose customers but will dispose of them at a leading retail chain store. He said:
<blockquote>We accept coins though they are being denied.
Look I have collected these coins from my clients. There are very few travellers so if I reject them I lose out on business.
I will just go and use them at OK Supermarkets, they accept these coins.
I think those who are not accepting coins it is because they are lazy to count them.</blockquote>
Denominations of coins that have been accepted for the past several months are the 25c, 50c, $1 and the recently introduced $2 coin.
With the Zimbabwe dollar having plummeted in value from 1:1 in February this year to 1: 16 in December, it has become unwise to use coins as carrying them around and counting them has become quite irksome.
<h4>More: <a href="https://www.hmetro.co.zw/coins-laborious-to-count/" rel="noopener noreferrer" target="_blank">H-Metro</a></h4>

Traders Accept Coins To Dump Them At OK Supermarkets

Some small-scale retailers in Harare have been rejecting the ZWL$0,25 cent <a href="https://www.pindula.co.zw/Zimbabwe%27s_2014_Bond_Coins" rel="noopener noreferrer" target="_blank">bond coins</a> since the introduction of new notes by the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe" rel="noopener noreferrer" target="_blank">Reserve Bank of Zimbabwe</a> on Tuesday.
National Vendors Union Zimbabwe (NAVUZ) chairperson, <a href="https://www.pindula.co.zw/Sten_Zvorwadza" rel="noopener noreferrer" target="_blank">Stan Zvorwadza</a>, said this is not the first time authorities have failed to give direction on such developments. Said Zvorwadza:
<blockquote>The news on the introduction of the new Zimbabwe currency has also fuelled the high levels of speculation leading to declare the 25 cent coins unacceptable in trade.
The other emerging reason is that inflation has rendered the 25 cent coins valueless and accepting them is adding an unnecessary burden of counting valueless coins.</blockquote>
On November 12, 2019, the central bank released new $2 and $5 notes and $2 bond coins to ease cash shortages that had paralysed trade for a couple of years.
The new notes have, however, flooded the streets as questions are being asked on how crisp notes released barely 24 hours before are already in the hands of illegal money changers.
<h4>More: <a href="https://zimmorningpost.com/harare-informal-market-phases-out-z025-cent-bond-coin/" rel="noopener noreferrer" target="_blank">Zim Morning Post</a></h4>

Informal Retailers Demonetize $0.25c Bond Coins

<blockquote>PUBLIC NOTICE ON ISSUE AND CIRCULATION OF TWO-DOLLAR BOND COIN
In line with the pronouncement made in the 2019 Mid-term Monetary Policy Statement and the Press Statement of 2 October 2019 to increase the level of physical cash in circulation, the Reserve Bank of Zimbabwe wishes to advise the public that with effect from 11 November 2019, it shall issue a two-dollar bond coin which will circulate alongside the two-dollar bond note.
The two-dollar bond coin will have the following features and characteristics:
(a) bi-metal with the outer rim being copper-nickel plated and the inner core 
being aluminium-bronze plated; 
(b) serrated rim profile with a groove and edge lettering; 
(c) inscription of the words “Two Dollar Bond Coin” and the numeral and symbol “$” on the observe side and 
(d) inscription of the letters “RBZ” and the numeral “2018” on the reverse side.
The public is also advised that all bond coins and bond notes shall circulate alongside, and shall be interchangeable with, the two and five dollar banknotes issued in terms of Statutory Instrument 231 of 2019.
J. P. MANGUDYA 
GOVERNOR RESERVE BANK OF ZIMBABWE 
4 November 2019</blockquote>
<img alt="Image" decoding="async" src="https://pbs.twimg.com/media/EIiPDZPWwAEWGfR?format=jpg&amp;name=4096x4096"/>

RBZ To Issue $2 Bond Coin On 11 November 2019 {Full Text}

The current bank exchange rates for the ZWL$ today are as follows:
<ul>
<li>USD to ZWL$: 15.7049</li>
<li>ZWL$ to RAND: 0.9597</li>
</ul>
Data according to the <a href="https://rbz.co.zw/">Reserve Bank of Zimbabwe</a>
Black Market Rates:
<ul>
<li>USD to ZWL$ <a href="http://www.zimrates.com/">zimrates.com</a> 21.30</li>
<li>USD to ZWL$  <a href="http://www.zwl365.com/">zwl365.com</a> 20.50</li>
<li>USD to ZWL$ <a href="http://www.bluemari.info/">bluemari.info</a> 19.50</li>
<li>USD to BOND: <a href="http://www.bluemari.info/">bluemari.info</a> 14.50</li>
</ul>
More: <a href="http://www.marketwatch.co.zw/?src=pindula-side-bar-more">marketwatch.co.zw</a>

Official Bank Rate & Black Market Exchange Rates Today – 01 November 2019

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Former Finance Minister, advocate Tendai Biti has said that it is crazy for the government to introduce “another currency” this year as said by RBZ governor Dr Jphn Mangudya this Tuesday.
Mangudya had said that the government will in two weeks time introduce a new currency, claims which were vehemently dismissed by the Finance Minister, Professor Mthuli Ncube who said there was no need since the government has already reintroduced the Zimbabwe dollar through Statutory Instrument 142 on June 24 this year.
The reports of the new currency, however, shocked Biti who posted on Twitter saying:
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1) The illegitimate regime has gone nuts. How does a Gvt change currency three times in a year? A fresh talk of adopting the rand Fact is they can adopt any currency they want but without the right macroeconomic conditions prevailing, its total waste of time
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2) Then went through the original Zim$, then they brought the bearer Chequers which they again bastardized, then they went through the US$, the bond note and the RTGS$. They can bring 100 other currencies but it won’t help. There is no confidence in them and no one trusts them
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<div class="thread">3)The thing is economics is a science of logic &amp; planning . It’s not kick and hope nor kick and rash. Nor is it prophecy.That a country can introduce 3 currencies in a year is criminal economics. The consequences from a planning , accounting &amp; economic view point are catastrophic</div>
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4) The currency confusion, the power shortages, inflation, the doctor’s strike and massive corruption are proven beyond doubt that Emmerson has failed. He has become a threat to the vital interests of sovereign Zimbabwe. He must step down or Constitutional process must remove him
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More: <a href="https://twitter.com/BitiTendai/status/1189230390025830402">Tendai Biti</a>
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FULL THREAD: Former Finance Minister Speaks On "New Currency" Reports

Finance Minister Professor Mthuli Ncube has dismissed reports that the central bank, the Reserve Bank of Zimbabwe (RBZ) will, in two weeks time, introduce “new currency” notes and coins.
His remarks are a clear departure from remarks earlier given by RBZ governor, Dr John Mangudya who had told reporters this Tuesday <a href="https://news.pindula.co.zw/2019/10/29/breaking-rbz-to-introduce-new-zimbabwe-dollar-notes-and-coins-in-2-weeks/">that the central bank was to introduce new notes and coins for the new currency.</a>
Mangudya also added that the introduction of the new currency money will see the country having both the bond notes which was introduced in 2016 and the new currency money. He said:
<blockquote>We’re going to be releasing the currency, the coins and the notes, to ensure we don’t starve the market. We also want to revise the limits upwards so people do not pay a premium for cash. Within the next two weeks, we will be having the cash.
We are going to have two things, we have bond coins in circulation and bond notes of $2 notes and the $5 note. We are going to have bond coins of $2 in circulation and we are going to have $2 of currency money (notes) and $5 notes of currency money in circulation.</blockquote>
Ncube, however, refuted the claims saying that <a href="https://news.pindula.co.zw/2019/06/24/breaking-rbz-si-142-bans-use-of-all-foreign-currencies-with-effect-from-24-june-2019/">the Zimbabwe dollar was already on the market hence no need to introduce the new currency. </a>
He said the government is merely <a href="https://news.pindula.co.zw/2019/10/29/watch-mthuli-ncube-says-there-is-no-new-currency-coming-only-additional-bond-notes-coins/">injecting the cash into the market to deal with the issue of divisibility as was the case when bond notes were introduced</a>.
More: <a href="https://news.pindula.co.zw/2019/10/29/breaking-rbz-to-introduce-new-zimbabwe-dollar-notes-and-coins-in-2-weeks/">Mangudya On New Currency</a>; <a href="https://news.pindula.co.zw/2019/10/29/watch-mthuli-ncube-says-there-is-no-new-currency-coming-only-additional-bond-notes-coins/">Ncube Refutes New Currency Claims</a>

Mthuli Ncube And John Mangudya Clash On "New Currency"

Deputy Governor of the Reserve Bank of Zimbabwe (RBZ) Kupukile Mlambo has suggested that the country should replace bond notes with bond coins in order to cut on externalisation and to allow the money to circulate in the formal economy. Mlambo who was not speaking in his official capacity said that the country should introduce $2 and $5 bond coins.
Speaking at the Institute of Administration and Commerce (IAC) conference, Mlambo said:
<blockquote>My feeling is that the next bunch of bond notes issued must be bond coins and this is me talking but it’s not official RBZ (Reserve Bank of Zimbabwe) policy yet. We should have $2 and even $5 coins because it is much harder to be found in the streets with a pile of $5 coins than $5 notes.</blockquote>
More: <a href="http://source.co.zw/2017/09/bring-bond-coins-says-cbank-deputy-governor/">The Source</a>

RBZ deputy governor says we should introduce $2 and $5 bond coins to prevent externalisation

The Reserve Bank of Zimbabwe (RBZ) has reported the driver who leaked the invoice of bond coins destined for Zimbabwe from South Africa this week. The driver is expected to be charged with violating the Official Secrets Act.
Tinashe Sikwila (32), a Zimbabwean employed as a driver by Prestige Carriers admitted that he took pictures of the invoice which he sent to his relatives on WhatsApp. In his statement of admission Sikwila said:
<blockquote>I admit that I sent to Calista (his workmate based in South Africa) a photo of the invoice copy while we were discussing the trip (to Zimbabwe) on social media (WhatsApp). I received the document of the RBZ consignment invoice at 14:45 hours. I departed at 15:00 hours with two escort vehicles. I sent the invoice around 16:30 hours. We started talking on WhatsApp through audio chats. I then sent the invoice to my friend to show the value of the load. I also spoke to Mtasa, Kondo and Clement Matuvhunye about the load, but I did not send them photos.</blockquote>
More: <a href="http://www.herald.co.zw/rbz-unmasks-driver-who-leaked-bond-coins-images/">Harare</a>

RBZ reports driver who leaked bond notes invoice to police

Tinashe Sikwila, a 32-year-old Zimbabwean who works for Prestige Carriers is facing arrest and is expected to be charged with violating the Official Secrets Act. This comes after Sikwila was exposed by the Reserve Bank of Zimbabwe (RBZ) as the culprit who leaked photos of an invoice of a consignment of bond coins from the South Africa Mint Company. The images of the invoice went viral on social media. Sikwila was exposed after all the people who had been escorting the consignment had their phones confiscated. He did not deny the charges and said:
<blockquote>I admit that I sent to Calista (his workmate based in South Africa) a photo of the invoice copy while we were discussing the trip (to Zimbabwe) on social media (WhatsApp).
I received the document of the RBZ consignment invoice at 14:45 hours. I departed at 15:00 hours with two escort vehicles. I sent the invoice around 16:30 hours. We started talking on WhatsApp through audio chats. I then sent the invoice to my friend to show the value of the load.
I also told my mother-in-law that I was not coming with my family because I was carrying a sensitive load to Harare for RBZ. I also deleted a chat with Kudzai Sikwila in which I told him that I was carrying money belonging to the RBZ,</blockquote>
 
<img alt="" class="alignnone size-full wp-image-29795" decoding="async" height="763" loading="lazy" sizes="(max-width: 446px) 100vw, 446px" src="http://news.pindula.co.zw/wp-content/uploads/2017/09/SA-Mint.jpg" srcset="https://news.pindula.co.zw/wp-content/uploads/2017/09/SA-Mint.jpg 446w, https://news.pindula.co.zw/wp-content/uploads/2017/09/SA-Mint-175x300.jpg 175w" width="446"/>
More: <a href="http://www.herald.co.zw/rbz-unmasks-driver-who-leaked-bond-coins-images/">Herald</a>

Driver who leaked invoice for Bond Coins to be charged with violating the Official Secrets Act

The Reserve Bank of Zimbabwe (RBZ) has ordered bond notes worth $3 million from the South African Mint company. The central bank ordered over 6 million 50 cent bond coins. The South African Mint company invoiced the Reserve Bank of Zimbabwe ZAR 5 135 296.32 (approx US$386 125) for the supply of 126 drums of the coins.
This comes as Zimbabwe is experiencing massive cash shortages with the Bond Notes failing to improve the situation.
<img alt="" class="alignnone size-full wp-image-29795" decoding="async" height="763" loading="lazy" sizes="(max-width: 446px) 100vw, 446px" src="http://news.pindula.co.zw/wp-content/uploads/2017/09/SA-Mint.jpg" srcset="https://news.pindula.co.zw/wp-content/uploads/2017/09/SA-Mint.jpg 446w, https://news.pindula.co.zw/wp-content/uploads/2017/09/SA-Mint-175x300.jpg 175w" width="446"/>

RBZ orders bond coins worth $3 million

The cash crisis seems to be getting worse after some Banks in Bulawayo seemingly ran out of bond notes and resorted to giving clients 10 cent bond coins. The banks started disbursing 50 cent coins a few weeks ago but the situation seems to be getting worse.
Due to the cash shortages, the Reserve Bank of Zimbabwe recently directed all shops to give out a maximum of only $20 as cash back. The Reserve Bank also announced said that there is adequate cash in circulation and it <a href="http://www.pindula.co.zw/news/2017/04/23/rbz-says-will-stop-issuing-new-bond-notes-people-develop-discipline/">will not be releasing more bond notes into the system until Zimbabweans develop fiscal discipline</a>.
Picture Credit:<a href="https://twitter.com/zenzele"> @Zenzele</a>

Banks give clients 10 cent bond coins as cash crisis worsens

The cash crisis seems to be getting worse after some Banks in Bulawayo seemingly ran out of bond notes and resorted to giving clients 10 cent bond coins. The banks started disbursing 50 cent coins a few weeks ago but the situation seems to be getting worse.
Due to the cash shortages, the Reserve Bank of Zimbabwe recently directed all shops to give out a maximum of only $20 as cash back. The Reserve Bank also announced said that there is adequate cash in circulation and it <a href="http://www.pindula.co.zw/news/2017/04/23/rbz-says-will-stop-issuing-new-bond-notes-people-develop-discipline/">will not be releasing more bond notes into the system until Zimbabweans develop fiscal discipline</a>.
Picture Credit:<a href="https://twitter.com/zenzele"> @Zenzele</a>

Since September 2015,<a href="http://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe"> the Reserve Bank of Zimbabwe (RBZ)</a> has pumped more that $6 million worth of <a href="http://www.pindula.co.zw/Zimbabwe's_2014_Bond_Coins" target="_blank">bond coins</a> into circulation since September  2015.  Data from the RBZ shows that  the total value of the bond coins in circulation is now up to $9,4 million from $3,4 million.
In September 2015 the value of bond coins was $3,4 million,which increased to $7,1 million by December 2015 and now stands at $9,4 million.
More: <a href="http://source.co.zw/2016/11/94-mln-bond-coins-in-circulation-cbank/" target="_blank">Source</a>

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