Zimbabwe: RBZ Misses Cash Target

24 January 2020

The Reserve Bank of Zimbabwe (RBZ) said yesterday about $1,1 billion in cash was in circulation at the end of December 2019, about $2 billion short of the target it had set to have in the market by then.

Zimbabweans are still battling cash shortages even after the re-introduction of a local currency last year.

Hopes were high that cash shortages, which have persisted for up to five years, would be a thing of the past with the country having its own currency.

But long queues are still a feature at banking institutions as depositors, who include pensioners, still battle to get access to the little available cash.

The bulk of the cash is still being found and sold in the streets, at premiums of up to 30 percent. -- New Ziana.

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