$15 million in circulation: $5 bond note arrives

$5 bond

Harare Bureau
The Reserve Bank of Zimbabwe has released $15 million worth of $5 bond notes into the market, with the new notes starting to circulate yesterday.

This brings the figure released in bond notes so far to $88 million.

RBZ governor Dr John Mangudya confirmed the introduction of the $5 bond notes in an interview last night.

“We have released $15 million into circulation,” he said. “The notes started circulating yesterday.”

Authorities view bond notes as a way of putting an end to cash hoarding and the externalisation of foreign currency, mainly the US dollar.

The notes are in $2 and $5 denominations and are pegged at 1:1 against the US dollar.

A new $1 bond coin was also introduced.

The $5 bond note, which is purple, has balancing rocks and three giraffes.

Security features on both notes include a Zimbabwe bird watermark, see-through perfect register, tactile marks for the visually impaired, security thread, alpha-numeric lettering and optically variable ink.

The $2 bond note is green and has images of balancing rocks on one side and the independence flame on the other.

Most people have welcomed the introduction of bond notes, which has improved money circulation, as people can now transact easily.

Many people from the informal sector have welcomed the move, with others embracing the use of plastic money to boost their sales.

 

Article Source: The Chronicle