News / National
Introduce $100 bond coins - Chinotimba
11 May 2016 at 14:58hrs | Views
Zanu PF MP Joseph Chinotimba has told parliament that it would be noble for the Reserve Bank of Zimbabwe to mint a $100 bond coin.
He said this will clear confusion on planned bond notes.
Chinotimba suggested in Parliament this afternoon that $1, $2 to $100 should be minted as people are resisting the bond notes.
On Wednesday last week, RBZ announced that as measures to curb cash crisis it was injecting bond notes into the market.
The bond notes are an extension of bond coins.
All along RBZ had been saying the cash crisis was not widespread.
But banks have been allowing clients to withdraw a maximum of $200 daily.
Responding to Chinotimba's proposal, Finance Minister Patrick Chinamasa said the suggestion was difficult to implement as people would need an entire truckload of $5 coins to buy some goods.
He said this will clear confusion on planned bond notes.
Chinotimba suggested in Parliament this afternoon that $1, $2 to $100 should be minted as people are resisting the bond notes.
On Wednesday last week, RBZ announced that as measures to curb cash crisis it was injecting bond notes into the market.
The bond notes are an extension of bond coins.
All along RBZ had been saying the cash crisis was not widespread.
But banks have been allowing clients to withdraw a maximum of $200 daily.
Responding to Chinotimba's proposal, Finance Minister Patrick Chinamasa said the suggestion was difficult to implement as people would need an entire truckload of $5 coins to buy some goods.
Source - Byo24News
