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Zimbabwe cash crisis: Banks give clients coins

by Thobekile Zhou
25 Apr 2017 at 12:57hrs | Views
Banks in Bulawayo are reportedly out of bond notes and are now issuing coins to client's.

Several clients have been spotted and photographed emerging from banking halls carrying plastic bags full of coins.

Recently, RBZ placed a cap of $20 on cash back facilities offered by retailers.

It has also ordered banks to put a withdrawal limit of $200 per week.

Opposition MDC-T vice president Nelson Chamisa today said long bank queues are the order of the day.

"Bond command economy is such a spectacular flop as cash rationing and bank queues form new bottleneck.

"Deaf leaders are a burden to the led" he posted in his official twitter account.

Bond notes are a special-to-Zimbabwe currency that were introduced in late November amid wide fears they would spark inflation and a return to the dark days of the last hyper-inflationary crisis, which peaked around 2007 - 2008.

Bank queues, however, have persisted, particularly in the weeks surrounding civil servants' pay days, as banks limit withdrawals.

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Source - Byo24News