Categories: Zim Latest

Bond Notes: Zim prints controversial US dollar token money

Latest News Update: Zimbabwe’s new currency already in banks, Coming next month october

Bond Notes: The controversial Zimbabwe US dollar tokens known as bond notes will be circulating beginning next month, zimnews has been told.

The Reserve Bank of Zimbabwe governor Mr John Mangudya told reporters in Harare that the time has come to unleash the unwanted paper money that will be printed in 2 and 5 dollar notes.

According to different sources, there is $75 million worthy of bond money already stashed in Harare waiting to be officially availed when the reserve bank is given a go ahead by the country’s leadership.

The token money was supposed to have been in use as of last month but was stopped after deadly strikes were staged in Harare against the new currency.

The central bank plans to introduce the bond notes in a bid to ease a shortage of bank notes blamed on a widening trade gap and the smuggling out of physical US dollars, Zimbabwe’s adopted currency since it dumped its inflation-ravaged currency in 2009.

Meanwhile, investors and savers are desperately trying to take all their money out of Zimbabwe’s banks ahead of the launch of the bond notes.

 

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