News:RBZ sets launch date for bond notes

<vote /> Reserve Bank of Zimbabwe Governor Dr John Mangudya announced in an interview that bond notes will start circulating around August 2016 and not June as previously projected as their production takes at least four to five months.

He reiterated that the RBZ will not be reintroducing the Zimbabwe dollar but that the bond notes will function the same way as the bond coins. He also mentioned that the bond notes will be printed in $2, $5, $10 and $20 denominations and will be backed by a US$200 million Africa Export-Import Bank facility.

The RBZ Deputy Governor Dr Kupukile Mlambo further acknowledged the fact that the RBZ will not be introducing the bond notes as the main currency but that a multi-currency system will continue to be functional.