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New Zimbabwean Dollar Notes Can't Buy A Loaf Of Bread

The Reserve Bank(RBZ) which is the The central bank of Zimbabwe said last week that it will be introducing new higher denomination Zimbabwe dollar notes, 10s and 20s, into the market, as part of the ongoing process to bring an end to acute cash shortages.

As of today, this ZWL$10 note is worth 16c (US$).

The new notes are already in the streets, and the highest ZWL$20 note cannot even buy a loaf of bread.

Just before the money was fully circulated a video of man holding bundles of the new $10 notes made waves on social media making citizens raise questions on how he was able to get a hold of the money.

Corruption is alleged to be the reason for such behavior however the Reserve bank issued a statement that the man had been found and that investigations were under way.

All businesses in the formal sector have been accepting debit cards or mobile money transfers for some time now, are unlikely to be affected positively or negatively by the new notes, and even in the informal sector, vegetable vendors are increasingly advertising their EcoCash numbers for mobile money transfers.

Content created and supplied by: Mushawatu (via Opera News )

RBZ Reserve Bank( The Zimbabwe Zimbabwean


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