Source: Zimbabwe to Introduce First Zimbabwe Dollar Notes in November – Bloomberg
Zimbabwe will put the first notes of its reintroduced currency into circulation in November, said Eddie Cross, a member of the central bank’s Monetary Policy Committee.
Zimbabwe has been chronically short of paper cash, forcing most transactions onto electronic platforms such as mobile-money system Ecocash.
“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.
COMMENTS
Great idea! Introduce a new worthless currency…
Currency only has the value of the trust people place in it. And nobody trusts the zanoid govt. I can hear the whistling already as it plummets in value…
“The trust is in what the backing is”, in your case nothing. You can print all the money you like, but the problems will not go away – they will get worse. Did you not learn anything from the previous crash? Maybe the new notes should have room for adhesive Zero’s to be affixed (A Tv program could advice the population how to do this “Now take you old note in your left hand and and remove 5 zeros out of your goverment Zimo And aNother Uyours, issued sticker book….”)
The Germans just overprinted the notes with new amounts for before the printing machine had proccesed the old notes, the value was worthless.
RBZ back in the business of interior decorating. Wallpaper printing. Good luck.
Printing press will be running 24/7 to get as much of this worthless money in circulation so Zanupf can get their runners to buy up all the Forex in the country, they will never learn and until Zimbabweans eventually grow a pair and kick Zanupf out, they will be condemmed to a life of misery
Is Cross for real? is he seriously that stupid, even more so to think we actually listen to him…. You will simply not be able to print enough notes to keep up up with the inflation you are creating by printing those very notes…. so No!!! it will Not solve any cash crisis, only create another.
But then again Eddie, a form 1 pupil could have explained that to you.
Do it fast and yu will be judged by your conduct
What about currency backed by cows and land?
The day the new ( about no 6 new ZW dollar) note is issued I am a seller of it comrades
Most of ZW’s bond notes are for sale on ebay – reason why there are none in ZW comrades