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RBZ introduces new $50 note

By Mutsa Makuvaza

THE Reserve Bank of Zimbabwe (RBZ) has introduced a new ZW$50 bill which it says comes into effect from 7 July 2021.

RBZ Governor, John Mangudya made the announcement in a statement today.

“The Reserve Bank of Zimbabwe wishes to advise the public that the ZW$50 banknote issued on 6 July 2021 through Statutory Instrument 196 of 2021, will be introduced into circulation on 7 July 2021,” said the Governor.

“The bank shall release ZW$360 million through the normal banking channels and banks are expected to fund their respective accounts held at the Reserve bank and collect the cash from 7 July 2021.”

Until now, the largest denomination was the $20. Read the statement below.

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