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RBZ Holds Onto ZiG50 And ZiG200 Notes

10 months agoSat, 01 Jun 2024 08:01:22 GMT
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RBZ Holds Onto ZiG50 And ZiG200 Notes

The Reserve Bank of Zimbabwe (RBZ) has ruled out introducing ZiG50 and ZiG200 to the market anytime soon over fears the bigger notes will fuel inflation.

Speaking during a Chamber of Mines of Zimbabwe 2024 annual conference held in Victoria Falls on Thursday, RBZ governor John Mushayavanhu said the central bank would rather introduce more of the smaller denominations to address the shortage of change. Said Mushayavanhu (via NewsDay):

Since we introduced the ZiG, the economy has continued to grow across all sectors and we have not seen any negative results or disruptions.

We have introduced most of the cash denominations that we said we were going to. We have got ZiG1, ZiG2, ZiG5, ZiG10 and ZiG20 in circulation now.

We are going to put more of the smaller denominations because we want to make sure that the problem of change is immediately alleviated.

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We have been very shy when it comes to introducing bigger denominations because psychologically, these denominations are inflationary. We do not see a reason to introduce the ZiG50 or ZiG200.

We have them, we have printed them, but it will take a bit of time before we put them on the market.

ZiG notes and coins remain scarce in the market because they are not readily available through banks. These shortages are hurting various sectors, including transport, supermarkets, and the informal market.

More: Pindula News

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36 Comments

Anonymous · 10 months ago
Thank you for the currency but should hold tyt screws to those sphatheleni they act like the country it's for them only
Anonymous · 10 months ago
How do you keep things that never existed? Why print them if you are not going to release them? What a waste of money to print them if they even exist. Zimbabwe is good at wasting money.
pk · 10 months ago
😂😂😂😂😂😂 sometimes I wander where that mentality of people must suffer to see that things are not ok came from because even this zig people are keeping their fingers crossed to see its down fall 🤔🤔🤔🤔🤔🤔
🦀🦀 · 10 months ago
tirikungotarisa ma previous chete hama yangu,kushuvira downfall yenyika yako zvakafanana nekushuvira kt mrume wako abude basa ,its only kwatakabva nemari dzedu kure and none prosperd, and still now pipo are taking advantage of zig especially vemabig shops
🏃‍♀️ Chi baby Che Zanu 🌊 · 10 months ago
ZiG ririkishanda and opposition irikurwadziwa. Opposition inofara kana vanhu vachitambura so that igowana zveku campaigner nazvo
Anonymous · 10 months ago
Iri benzi harina dzakakwana...
🦀🦀 · 10 months ago
unaro zig racho iwe here chi**** chezanu
🏃‍♀️ Chi baby Che Zanu 🌊 · 10 months ago
ZiG imari yakanaka. Thank you FIU for kudzikamisa mhepo dze opposition dzaida kuita makuratienzane na Baba.
chibhanguza · 10 months ago
murikukwata here
Anonymous · 10 months ago
Keep them as you wish even up to 2028
Makanyanisi · 10 months ago
Saka irikushandei?
Jim · 10 months ago
wait for introduce big notes .
👑 King Abs Jim · 10 months ago
yaah uuum Bhobhojani unonyora
Mudhibhisi · 10 months ago
The ZiG and politics is like water and oil.They don't mix. This unique currency requires the support of each and every Zimbabwean.Its our national pride, let it shine.Of course in due course it will achieve full convertibility, and will be able to purchase those things that it cannot at the present moment. #Forever Gold.
44yrs · 10 months ago
But material yakagadzira zig10 haaa marara chaiwo zvatosakara less than 35days zvakaoma gadziraiwo zvakasimba zvimapapers izvo
@bhobhojani bhadhiza · 10 months ago
kti dyoooo pfoooo memo,
Ding Dong · 10 months ago
Mumakombi, tuckshops nemumisika varikuti 10 zig note is 50 cents. So rate yezig 1$ /20.
Anonymous · 10 months ago
00263714039897 Report them on this number
Inflation Juice · 10 months ago
If those notes are released. Inflation is going to go berserk
Wa Gutu · 10 months ago
You're on point my Governor. Just let the market forces take control. Our local currency value is good so far and really needs to be secured. Do ever what it takes to bring back economic resurgence.
Antman · 10 months ago
Hold them even upto 2025 the moment you release them you might spark inflation. Some of us have a lot of investment in ZiG so save our investments
Zig · 10 months ago
Thank u my boss
· 10 months ago
Zvauri 2GiG

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