RBZ announces new notes release schedule and increases withdrawal limits

The Reserve Bank of Zimbabwe has announced the dates and schedule for the release of the new $10 and $20 notes.

The statement reads:

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 1 9 May 2020; and
The $20 banknote will be in circulation by the first week of June 2020.

The features of the said banknotes will be publicised prior to the circulation of the banknotes.

The Bank also advises 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.

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