Andrew
Lincoln Towindo
Government has gazetted the features of the new $10 and $20 notes set to be introduced into circulation to increase physical money supply and curb cash shortages.
Statutory Instrument 103A of 2020 published in terms of the Reserve Bank of Zimbabwe Act [Chapter 22:15] contains details of the features of the incoming notes.
It reads: “There shall be issued, in terms of the Act, a ten dollar banknote and a twenty dollar banknote.
“The design of the of ten dollar banknote shall be as follows— (a) on the front side of both the ten dollar note the dominant feature shall be the logo of the Reserve Bank of Zimbabwe (three balancing rocks), with the visually impaired recognition feature to the left, latent image showing the denomination, optical variable ink with colour shift from magenta to green, security thread with the inscription “RBZ”, watermark with highlighted inscription “RBZ 10” and see-through of the Zimbabwe Bird looking to the left in perfect register.
On the back side there shall be an impression of RBZ and four buffaloes.
“The design of the of twenty dollar banknote shall be as follows—
“On the front side of both the twenty dollar note the dominant feature shall be the logo of the Reserve Bank of Zimbabwe (three balancing rocks), with the visually impaired recognition feature to the left, latent image showing the denomination, optical variable ink with colour shift from green to azure, security thread with the inscription “RBZ”, watermark with highlighted inscription “RBZ 20” and see-through of the Zimbabwe Bird looking to the left in perfect register.”
On the back side there shall be an impression of one elephant and the Victoria Falls.
The money will be drip-fed into circulation beginning this quarter.
Currently, around $1,4 billion in cash is circulating. The new notes are expected to take the total to $2 billion.
Zimbabwe has $2 and $5 notes and coins, which make cash transactions cumbersome, with small transactions now requiring huge wads of notes and coins due to inflation.
Online Reporter