Published by the government of Zimbabwe
6 December 2008
Harare — THE Reserve Bank of Zimbabwe will soon introduce a $200 million note in a move expected to bring convenience to the transacting public.
The introduction of the note follows the announcement by the central bank that it would, with effect from next Friday, raise the weekly cash withdrawal limit to $500 million.
Depositors would also be allowed to withdraw up to $10 billion a month from December 19 on production of a payslip, and their full take-home salary, also on submission of a payslip, from January 12 next year.
Plans for the introduction of a $200 million note are contained in a Statutory Instrument published in yesterday's Government Gazette by the Minister of Finance, Cde Samuel Mumbengegwi.
Distinctive features of the $200 million note include an impression of the Zimbabwe Parliament Building and the Tomb of the Unknown Soldier at the National Heroes' Acre on one side, and the RBZ logo, which comprises three balancing rocks, on the other side.
However, the regulations do not state the date on which the note comes into circulation.
Cde Mumbengegwi also gazetted other monetary measures recently taken by the central bank aimed at restoring sanity in the banking sector.
These include the introduction of $10 million, $50 million and $100 million notes which went into circulation on Thursday.
Other regulations gazetted included the raising of the cash withdrawal limit to $100 million a week, up from $500 000 a day.
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