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*RBZ To Inject $1 Billion In New Notes & Coins: Mangudya* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?rw The Reserve Bank of Zimbabwe (RBZ) governor John Mangudya said that an extra $1 billion will be injected on a drip-feed basis to increase the cash in circulation. Mangudya said this while addressing Members of Parliament attending the 2020 National Budget seminar at Elephant Hills Resorts in Victoria Falls on Thursday. ---------- *Latest itel S24 now available on Pindula* $124 Cash on Delivery in Harare & Bulawayo. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- He revealed that $2 bond coins and $2 and $5 notes will be eased into circulation to add to the $855 million bond notes and coins already in use. This will bring issued cash to just under 10 per cent of total deposits in both local and foreign currency. Mangudya added that the Zimbabwe dollar should exchange at $5-$8 against the US dollar and not the current 1:15 at the interbank market. The central bank chief also said that Zimbabwe has the lowest cash to deposits ratio when compared to other African countries, with Tanzania having up to 15 per cent. Currently, Zimbabwe has about $19 billion in circulation, with only 4,5 per cent being cash. *More: The Herald* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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