THE Reserve Bank of Zimbabwe (RBZ) will introduce a new currency in the next two weeks, which will circulate alongside the bond notes and coins, the latest step towards restoring a domestic currency, the central bank governor said on Tuesday.
Governor John Mangudya says the RBZ will introduce new $2 and $5 Zimbabwe dollar notes and not bond notes as well as $2 bond coins in circulation in the next two weeks.
He said this during a press conference given by the Monetary Policy Committee (MPC) on Tuesday afternoon.
Mangudya said the new currency would consist of 5 dollar notes and 2 dollar coins and would be introduced gradually to prevent driving up inflation.
President Emmerson Mnangagwa and Finance Minister Mthuli Ncube had previously said that Zimbabwe would have a new currency before the end of the year.
However, they were accused of ambushing Zimbabwean citizens and the business committee when they introduced the RTGS$ as new currency barely a month later.
More to follow…
