By A Correspondent- The Reserve Bank of Zimbabwe (RBZ) has said it has no plans of introducing Z$100 and Z$200 banknotes as suggested in some sections of the media.
RBZ will soon introduce a new set of higher denomination banknotes to increase physical money supply, curb cash shortages and improve transacting convenience.
RBZ is working on the introduction of a Z$50 banknote into the market for the convenience of the public.
Authorities have approved the introduction, into circulation, of new Z$50, Z$100 and Z$200 banknotes this year.
The $50 note will be introduced first, while plans to introduce the other notes are still in the works.
Designs of the new Z$50 dollar note are awaiting the President’s approval before printing can commence.
Zimbabwe has Z$2, Z$5, Z$10 and Z$20 notes in circulation.