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First Zimbabwe Dollar Notes to be Rolled Out in November

Zimbabwe will put the first notes of its reintroduced currency into circulation in November. This is according to Eddie Cross, a member of the central bank’s Monetary Policy Committee.

FILE PHOTO: People walk past the Reserve Bank of Zimbabwe building in Harare, Zimbabwe-REUTERS

Zimbabwe has been struggling with a shortage of paper cash, forcing most transactions onto electronic platforms such as mobile-money system, Ecocash.

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“We have insufficient cash in the system to meet people’s needs for transactions,” Cross told the Zimbabwe Broadcasting Corp. The new notes “should do away with the queues at the banks and people then should have adequate money for daily use.”

The Zimbabwe dollar was reintroduced in June in electronic form after being abolished in 2009 following a bout of hyperinflation.

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Written by How Africa

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