Zim introduces bond notes at last

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File photo of a protester opposed to the introduction of bond notes burning a Zim dollar note. (Memory Mataranyika)
File photo of a protester opposed to the introduction of bond notes burning a Zim dollar note. (Memory Mataranyika)

Harare -The Reserve Bank of Zimbabwe (RBZ) is set to introduce much-awaited bond notes into the market on Monday. This will happen through normal banking channels in small denominations of $2 and $5 to fund export incentives of up to 5%, which will be paid to exporters of goods and services and diaspora remittances.

In a statement released over the weekend, the RBZ said the initial release of bond notes shall be in an amount of $10m in denominations of $2, and another $2m in $1 bond coins.    

The bond notes, which are anchored to the Afrexim Bank’s $200m facility, are pegged 1:1 to the US dollar.

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