'n Vriendelike Veeltalige Internasionale Bymekaarkomplek
A Friendly Multilingual International Social Meeting Point

 
HomeHome  CalendarCalendar  GalleryGallery  FAQFAQ  SearchSearch  RegisterRegister  MemberlistMemberlist  UsergroupsUsergroups  Log in  

Share | 
 

 Zimbabwe to introduce new Z$10-million banknotes

View previous topic View next topic Go down 
AuthorMessage
Warrefok
Entheos


Male
Number of posts : 1056
Age : 68
Location : Pretoria - South Africa
Registration date : 2007-10-18

PostSubject: Zimbabwe to introduce new Z$10-million banknotes   Thu Jan 17, 2008 5:20 pm

Zimbabwe to introduce new banknotes
Harare, Zimbabwe - 16 January 2008

New banknotes, including a Z$10-million bill, will go into circulation
in inflation-ravaged Zimbabwe this week, the central bank's governor
said on Wednesday.

Less than a month after announcing a similar move, Gideon Gono said
the new notes would provide much-needed relief to consumers who
often have to go shopping with sacks of cash.

"With effect from Friday, the Reserve Bank of Zimbabwe is releasing the
following bearer cheques into circulation: Z$1-million [officially worth
about $33], Z$5-million and Z$10-million," Reserve Bank Governor
Gono told a news conference.

"Further to provide relief and convenience to the transacting public,
daily cash withdrawals have been increased from the current
Z$50-million to Z$500-million per individual. This takes effect from
Friday," he said.

Last December 19, Gono announced the immediate introduction of higher
denominations of banknotes in a bid to tackle cash shortages fed by
runaway inflation.

The following day, Z$250 000, Z$500 000 and Z$750 000 notes officially
came into circulation.

Gono had expressed hope at the time that the new notes would mean
"cash shortages will be a thing of the past", but they continued unabated.

snip---snip---snip---snip---snip---snip---snip---snip---snip---snip

M&G
Back to top Go down
View user profile
 
Zimbabwe to introduce new Z$10-million banknotes
View previous topic View next topic Back to top 
Page 1 of 1
 Similar topics
-
» BRITISH MAN FINED 10 MILLION EUROS FOR STARTING FIRE IN THE SIERRA NEVADA
» MILLION - MAN PROTEST OVER ANTI-ISLAM FILM
» Body of Maddie 'worth' 1.2 million
» Multi-million dollar budget for Caribbean Fashion Week (CFW)
» Maddie: The 10 million pound search - Daily Mirror

Permissions in this forum:You cannot reply to topics in this forum
Sparkling Sparklers :: Sparkling Sparklers Forums :: In die Nuus - In the News-
Jump to: