Cash situation improves, says RBZ

The cash situation has marginally improved compared to the situation that obtained in the last two years, mainly because of the surge in export receipts, the Reserve Bank of Zimbabwe (RBZ) says.

Zimbabwe has been battling untold paper money shortages since March 2016, resulting in depositors spending nights in queues at banking halls in a desperate bid to better position themselves for the next day. However, a combination of increased exports and efforts by the RBZ to promote the use of plastic money, has seen dire cash demand by depositors largely declining across the country.

RBZ deputy governor Dr Kupukile Mlambo says the cash situation has markedly improved, and can only get better in future as more firms turn to the export market.