HARARE, November 26 (The Source) – Zimbabwe’s central bank says bond notes, a token currency which will circulate within a basket of multiple currencies, will be introduced on Monday.
“The bond notes will be released into the market through normal banking channels in small denominations of $2 and $5,” said the central bank in a statement on Saturday.
Zimbabwe’s government hopes the bond notes, which will trade at par with the greenback, will help ease a shortage of bank notes blamed on a widening trade gap and the smuggling out of physical US dollars, Zimbabwe’s adopted currency since it dumped its inflation-ravaged currency in 2009.
More details to follow . ..