Banks yet to get ZiG banknotes, coins from RBZ

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Some banks in Harare are said to be still waiting to receive Zimbabwe Gold (ZiG) banknotes and coins from the Reserve Bank of Zimbabwe (RBZ) despite the fact that according to authorities they have already entered the market.

A snap survey in the capital this morning revealed that the banks are still waiting for their consignment from the apex bank. Customers could be seen in long queues waiting to withdraw money.

Reports from Bulawayo also suggest that citizens are anxiously waiting to withdraw the currency from their banks, which say they are yet to receive money from RBZ.

Meanwhile, the market is still sceptical if the currency will be able to stand the multi currency heat.

Some fear that RBZ might print more money, thereby pushing inflation up.

Apparently, the central bank says it won’t be tempted to print or put more money into the market than necessary.

“At whatever point, the amount of money in circulation will be less than the amount we have in reserves,” said RBZ Governor John Mushayavanhu during a Parliamentary committee meeting recently.

Zwnews