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RBZ announces ZWL50 note circulation

The Reserve Bank of Zimbabwe (RBZ) has announced the much-awaited 50 Zimbabwe dollar note.

The note was announced via a statutory instrument on 6 July 2021 and will go into circulation the day after.

ZWL360 million will be released via the normal banking channels and such institutions are to fund their accounts with the RBZ. They will then be able to collect cash from 7 July 2021.

The move comes as there continues to be a shortage in supply of the local currency in physical form.

What remains to be seen, is how this injection will affect a market which tends to be edgy.

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