Bond Notes Set To Be Released On Monday

It is now official that bond notes will be released on Monday, The Reserve Bank of Zimbabwe is pleased to announce the introduction of bond notes with effect from Monday, 28 November 2016.Bond Notes Set To Be Released On Monday.

The bond notes will be released into the market through normal banking channels in small denominations of $2 and $5 to fund export incentives of up to 5% which will be paid to exporters of goods and services and diaspora remittances.

The bond notes shall reportedly be in an amount of $10 million in denominations of $2 and $2 million in $1 bond coins. The features of the bond notes will be released simultaneously with the bond notes. The use of bond notes within the multi-currency exchange system which are anchored to the US$200 million facility will operate along the same lines as bond coins. They are pegged 1:1 to the US dollar.