Published by the government of Zimbabwe
10 December 2008
Harare — THE introduction of $50 million and $100 million notes last week has created problems for consumers who are now being forced to buy smaller denomination notes or made to pay more when paying for goods and services because change has become scarce.
The change problem is greatly inconveniencing the transacting public as it is now difficult to buy groceries and cover transport costs.
There are fears that the problem could worsen on Friday when the maximum withdrawal limit goes up to $500 million and if the $200 million note goes into circulation.
The shortage of change has spawned a new breed of businesspeople who are doing brisk business "selling" lower denomination notes.
For example, $50 million is being sold for $40 million while $100 million is going for between $80 million and $85 million.
Some commuter omnibus operators have joined the bandwagon and are charging higher fares for passengers with $50 million or $100 million notes.
For a trip that normally costs between $3 million and $5 million, commuters with higher denomination notes are being charged $10 million.
Other commuter omnibus operators are now charging in foreign currency. They ask for 50 US cents and give change in Zimbabwe dollars.
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