News / National
Bond notes for miscellaneous transactions - RBZ
16 Oct 2016 at 07:42hrs | Views
The controversial bond notes to be introduced in coming weeks are only for miscellaneous transactions and won't flood the market.
Reserve Bank on Zimbabwe Deputy Governor Kupukile Mlambo said there is no need for panic as there won't be a lot of bond notes on the market to allow for activities such as "cash burning".
"They are going to come in small denominations of $2 and $5, which means they can be used for miscellaneous transactions.
" Also, there is no need to panic because statistics have shown that bank deposits have remained the same.
"We acknowledge that long queues are there, and this is not convenient to the public. The figures we have from banks show that deposits are still steady."
RBZ is yet to unveil spacemen for the bond notes.
Recently it said it has not made any designs.
Reserve Bank on Zimbabwe Deputy Governor Kupukile Mlambo said there is no need for panic as there won't be a lot of bond notes on the market to allow for activities such as "cash burning".
"They are going to come in small denominations of $2 and $5, which means they can be used for miscellaneous transactions.
" Also, there is no need to panic because statistics have shown that bank deposits have remained the same.
"We acknowledge that long queues are there, and this is not convenient to the public. The figures we have from banks show that deposits are still steady."
RBZ is yet to unveil spacemen for the bond notes.
Recently it said it has not made any designs.
Source - Byo24News
