The Reserve Bank of Zimbabwe (RBZ) claims it is aware that bond notes are now being sold in Mozambique, Zambia and South Africa and this has contributed to the unyielding cash crisis in the country, a tacit admission of failure, as the central bank always claimed the surrogate currency will only trade hands within Zimbabwe’s borders.
RBZ deputy governor, Kupukile Mlambo told participants at an international retailers’ indaba hosted by Confederation of Zimbabwe Retailers (CZR) in Harare yesterday that the central bank was surprised to learn from its staffers and bankers that bond notes were being found across the border.
Mlambo suggested cross border traders were responsible for taking bond notes across the border, which he bizarrely said were a more “stable” currency compared to the South African rand. Cross border traders are estimated to be spending $1,15 million daily buying their wares.
Financial expert, Persistence Gwanyanya, said bond notes were being found across borders due to their parity with the United States dollar.
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