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Zimbabwe Central Bank Introduces Special Bond Coins

  • Gibbs Dube

These special bond coins were disbursed to various Zimbabwean banks Thursday. (Picture: Reserve Bank of Zimbabwe)

The Reserve Bank of Zimbabwe (RBZ) on Thursday introduced special bond coins worth $10 million into the money market with high hopes that the move will tackle challenges of change faced by traders and members of the public.

RBZ spokesman Alson Mfiri said some Zimbabweans started getting the coins soon after they were disbursed to banks in various parts of the country.

Mfiri said members of the public should accept the coins that were printed in South Africa.

Banker Samson Nhliziyo noted that most banks have disbursed some of the coins to the public.

At the same time, the Consumer Council of Zimbabwe director Rosemary Siyachitema said local people are expected to accept the coins though there are indications that some think that the RBZ is re-introducing the Zimbabwe dollar through the back door.

Some consumers have indicted that they will reject the coins claiming that they are valueless. The coins are in denominations ranging from one cent to 25 cents.