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From 1994 to 1997, the Reserve Bank introduced the second series of Zimbabwe banknotes into circulation. Due to high inflation, which at the time peaked at 42.1% in 1992, [33] the rollout began with two new denominations, $50 and $100. Other denominations followed in 1997, while the $2 note was replaced by a coin. [34]
In November 2016 backed by a US$200 million Afreximbank loan the Reserve Bank of Zimbabwe began issuing $2 bond notes. [4] Two months later US$15 million worth of new $5 bond notes were also released. [5] Further plans for $10 and $20 bond notes were ruled out by the central bank's governor, John Mangudya. [6]
In November 2016, backed by a US$200 million loan from the African Export-Import Bank, the Reserve Bank of Zimbabwe began issuing $2 bond notes. [2] Two months later, US$15 million worth of new five-dollar bond notes were also released. [3] Further plans for $10 and $20 bond notes were ruled out by the Reserve Bank's governor John Mangudya. [4]
The bank traces its history to the Reserve Bank of Rhodesia, founded on 22 May 1964, but which succeeded the Bank of Rhodesia and Nyasaland (1956-1963) which had been liquidated at the collapse of the Federation of Rhodesia and Nyasaland in 1963. [3]
The Reserve Bank also wanted to end the system of different exchange rates, which resulted in customers paying more or less depending on the payment method. [23] On 20 February 2019, Reserve Bank governor John Mangudya announced the introduction of a new Zimbabwean dollar, initially called the Real Time Gross Settlement dollar (RTGS dollar). [24]
New low-denomination banknotes touted by the government as the solution to the acute cash shortage that has crippled Zimbabwe's economy failed to arrive on Monday, leaving banks in confusion and ...
Zimbabwe will introduce higher denomination bank notes to increase the amount of cash in circulation, the finance minister said in a government notice on Thursday, at a time inflation is soaring ...
The Reserve Bank of Zimbabwe announced plans for new Z$5,000 and Z$10,000 coins in June 2005, [65] although these were never actually struck. In its 2014 mid-term monetary policy statement, the Reserve Bank of Zimbabwe (RBZ) said it would import special coins, known as Zimbabwean bond coins, to ease a shortage of change in the economy. Like the ...
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