Government Reveals More Detail on New Banknotes

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Finance Minister Professor Mthuli Ncube made a notice on the latest banknotes to hit Zimbabwe’s monetary supply any time soon in the coming days.

The notice, given in terms of section 40(3) of the Reserve Bank of Zimbabwe (RBZ) Act [Chapter 22:15], describes the Issue of Two Dollar and Five Dollar banknotes.

This follows an announcement by the RBZ on Tuesday last week that new notes will be introduced in two weeks from then.

The notes are expected to easy cash challenges that are taking place in Zimbabwe and will be trading at 1:1 with the Bond note.

The given notice is part of the procedure before new notes are introduced into the system.

Specimen for the new notes are to be also introduced after such procedures have been followed.

The following is the description of the designs of new banknotes

In respect of the Two dollar note, on the backside, there shall be an impression of the Parliament of Zimbabwe Building and the Eternal Flame. The basic colour of the Note will be Green.

In terms of the Five dollar note, on the backside, there shall be an impression of three giraffes and three palm trees. The basic colour of the note shall be purple.

On the front side on the new notes, the dominant feature shall be the logo of the RBZ (three balancing rocks), with the visually impaired recognition feature to the left.  Front features will also include a latent image showing the denomination, optical variable ink with a colour shift from gold to green, security thread with the inscription “RBZ”, watermark with the highlighted inscription “RBZ” and see-through of the Zimbabwe Bird looking to the left in perfect register, as a secondary feature. The notes will be 156 mm x 66 mm in size.

Against perception in the public domain, the Finance Minister denied that the new notes are a new currency and said the currency was introduced in June this year.

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