Reserve Bank of Zimbabwe (RBZ) has today revealed the dates to commence the circulation of higher denomination notes including $10 and $20.
The $10 banknote will commence circulating on Tuesday 19 May 2020 while the $20 banknote will be in circulation by the first week of June 2020 according to the Central Bank Governor John Mangudya.
Following the latest developments, the Central Bank also revised withdrawal limits.
“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,” Mangudya says.
“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.”
In terms of the design of the notes Statutory Instrument 103A of 2020 which allows issuance of the ten and twenty dollar notes gives the following description
On “the front side of both the ten dollar note the dominant feature shall be the logo of the Reserve Bank of Zimbabwe (three balancing rocks), with the visually impaired recognition feature to the left, latent image showing the denomination, optical variable ink with colour shift from magenta to green, security thread with the inscription ‘RBZ’, watermark with highlighted inscription ‘RBZ 10’ and see-through of the Zimbabwe Bird looking to the left in perfect register, as secondary features and on the back side there shall bean impression of Reserve Bank of Zimbabwe Building and four buffaloes.”
“on the front side of both the twenty dollar note the dominant feature shall be the logo of the Reserve Bank of Zimbabwe (three balancing rocks), with the visually impaired recognition feature to the left, latent image showing the denomination, optical variable ink with colour shift from green to azure, security thread with the inscription ‘RBZ’, watermark with highlighted inscription ‘RBZ 20’ and scc-through of the Zimbabwe Bird looking to the left in perfect register, secondary features; and on the back side there shall be an impression of one elephant and the Victoria Falls.”
The latest notes will be of 156 mm x 66 mm in size, with ten dollars in red and twenty dollars in blue.
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