RBZ inject more bond notes

Reserve Bank of Zimbabwe is set to inject a second batch of $2 dollar bond notes worth  $7 million this week.

The $5 bond notes are to be released in 'due course',  RBZ said in a statement on Wednesday.

Last week,  central bank introduced a surrogate currency called "bond notes"  worth $10 million in an attempt to ease a liquidity crunch that has resulted in many depositors failing to access their money from local banks.

However, the bond notes have  failed to end cash shortages, with many people still sleeping outside banks to access their money.

Reads part of the statement, "In line with the strategy to release the Bond Notes on a measured or drip feed basis, the Bank would like to advise the public that it is releasing the second batch of $2 Bond Notes amounting to $7 million this week.

"This brings the total amount of Bond Notes disbursed to $17 million against a value of $70 million payable to exporters of goods and services under the Export Incentive Scheme."

RBZ top officials last week admitted that banks had run out of bond notes.