UPDATED: Banks start collecting cash from RBZ 

Source: UPDATED: Banks start collecting cash from RBZ | The Herald 11 NOV, 2019

UPDATED: Banks start collecting cash from RBZ
Cash in Transit vehicles wait in line to collect money from the Reserve Bank of Zimbabwe. Picture by Believe Nyakudjara

Business Reporter
BANK customers will be able to access cash at institutions they bank with starting tomorrow morning after the Reserve Bank of Zimbabwe began dispensing notes and coins to all banks across the country, RBZ Governor Dr John Mangudya said this afternoon.

Dr Mangudya said the central bank started the cash distributions in the morning today with virtually all the banks expected to have received allocations, especially those that were not able to be served in the morning today, by tomorrow morning.

The central bank chief said banks were in the process of collecting the cash made up of the new $2 bond coins as well as the banknotes comprising denominations of $2 and $5 notes of the Zimbabwe dollar that was reintroduced in June this year.

However, he noted that the injection of new notes and coins to address the acute shortages that have seen people being charged steep premiums to get cash, will be gradually on a drip-feed basis.

COMMENTS

WORDPRESS: 2
  • comment-avatar

    Have they started to print the Z.1000.000.000 notes yet ?

  • comment-avatar
    ace mukadota 1 month ago

    Exciting times ahead comrades – soon we will be able to withdraw our own money from the ZW banks – Professor Steve Hanke says ZW inflation today is 550 per cent. Hopefully this fiddling about with cash notes will not send inflation higher