Zimbabwe bankers to stop importing $50, $100 bills

The Bankers Association of Zimbabwe (BAZ) president Charity Jinya has said her body would soon stop importing $50 and $100 bills.

Jinya told parliament's Finance and  Economic development committee Monday evening that importing smaller denominations would reduce externalisation.

"We are going to be soon importing smaller denominations up to only $20  notes to deter externalization," said Jinya.

Jinya also told the committee that it was more prudent to "make it expensive to do withdrawals and cheaper to use electronic cards.

"We recommend the increased use of plastic money to reduce queues in our banks".

Monetary authorities have of late been encouraging use of plastic money.