Zimbabwe New Notes on Tuesday

Zimbabwe New Notes Circulation Starts Tuesday

Writes Leonard Murendo Reporter

Specimen of Zimbabwe New Notes

Zimbabwe new notes will come into circulation starting Tuesday 19 May 2020 according to a statement released by the Reserve Bank of Zimbabwe last Week. The statement released on 15 May by the Reserve Bank Follows:

“The Reserve Bank of Zimbabwe (the Bank) wishes to advise the public that the $10 and $20 dollar banknotes issued on 14 May 2020 through Statutory Instrument 103A of 2020, will come into circulation as follows, the $10 banknote will commence circulating on Tuesday 19 May 2020; and the $20 banknote will be in circulation by the first week of June 2020.”

According to the statement, the reserve bank issued some security measures on the new notes notably: visually impaired recognition feature, latent image showing the denomination, optical variable ink with colour shift from magenta to green or green to azur, a security thread with “RBZ 10” and “RBZ 20” Watermark with highlighted “RBZ 10” and “RBZ 20” and a see-through of National Bird on either side which is in perfect register.

The Bank also advised that it has revised withdrawal limits upwards from $300 per week to $1000 per week with effect from 19 May 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 any such abuse in terms of the law.

The last denomination of the notes issued was the $5, however the bank has been facing challenges whenever new money is released when it finds its way into the black market.