Dinar Daily
Welcome to Dinar Daily Discussions.

Logging in with your USERNAME allows you to participate in discussions, see what has recently been posted, and other options. Guests can post but they do have limited abilities.

We are NOT a guru forum. We are a dinarian forum. The opinions expressed on the forum do not reflect the of opinion of Dinar Daily specifically, but rather reflect the views of the individual posters only.

Disclamer:

We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."


Get Daily Updates of the NEWS & GURUS in your EMAIL
CHECK YOUR EMAIL for VERIFICATION

Enter your email address:

Zimbabwe central bank to inject new bond coins into economy DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Zimbabwe central bank to inject new bond coins into economy

Post new topic   Reply to topic

Go down

Zimbabwe central bank to inject new bond coins into economy Empty Zimbabwe central bank to inject new bond coins into economy

Post by Ponee on Fri Nov 22, 2019 8:53 pm

Zimbabwe central bank to inject new bond coins into economy



AFRICA / 6 NOVEMBER 2019, 12:03PM / TICHAONA CHIFAMBA




Zimbabwe central bank to inject new bond coins into economy CnbbphE005002_20180208_NBPFN0A001
The Reserve Bank of Zimbabwe has announced that new 2 Zimbabwe dollar bond coins will go into circulation on November 11. Picture: Xinhua/Shawn Jusa


Harare -- The Reserve Bank of Zimbabwe (RBZ) has announced that new 2 Zimbabwe dollar bond coins will go into circulation on November 11 and will be used alongside the existing bond notes and coins. 

A statement by RBZ governor John Mangudya which was published in local newspapers Tuesday said the coins would be similar to the 1 dollar bond coin currently in circulation. 


"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 will effect from 11 November 2019, it shall issue a two-dollar bond coin which will circulate alongside the two-dollar bond note," he said. 

RBZ started introducing bond notes and coins in 2016 in a bid to ease cash shortages as the United States dollar, which was the major unit of trade then, became scarce as the country failed to generate meaningful foreign currency. 


Although the use of plastic money has increased over the years, there are some people such as commuter transport operators, part-time laborers, small traders and vendors who demand cash for goods and services provided. 


Mangudya has also since announced that the central bank will also in November introduce proper 2 dollar and 5 dollar notes, which will also operate alongside the bond notes. 
He said the central bank would gradually inject about 1 billion Zimbabwe dollars cash over the next six months to bring the amount in circulation to 1.9 billion dollars or 10 percent of total deposits. 

*****************
Ponee
Ponee
Admin
Admin

Posts : 35406
Join date : 2011-08-09

Back to top Go down

Back to top


 
Permissions in this forum:
You can reply to topics in this forum