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Zim central bank unveils new ZWL$10, ZWL$20 banknotes


STAFF REPORTER


The Reserve Bank of Zimbabwe (RBZ) on Friday unveilled new ZWL$10 and ZWL$20 banknotes which will start circulating next week.


The RBZ governor, John Mangudya said the ZWL$10 banknote is slated to go into circulating on Tuesday next week and the ZWL$20 banknote will be in circulation from the first week of June 2020.


Government hopes the new banknotes will help end the cash crunch crippling Zimbabwe’s economy.


This means the new set of banknotes will circulate alongside the ZWL$2 and the ZWL$5 banknotes and bond coins already in circulation.
The RBZ will in the coming few days roll out an awareness campaign to educate the public on the features of the banknotes.


“The features of the said banknotes will be published prior to the circulation of the bank notes,”Mangudya said.
The central bank also revised upwards the cash withdrawal limits to ZWL$1000 per week from ZWL$300 per week from May 19,2020.


“Banks have been directed to ensure that the withdrawal limits are strictly observed. The bank will not tolerate any abuse of currency and will decisively deal with such abuse in terms of the law,” Mangudya warned.

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