Chuyển đến nội dung chính

Governor John Mangudya's NEW notes and coins EXCITE market

Governor John Mangudya's NEW notes and coins EXCITE market.THE Reserve Bank of Zimbabwe (RBZ)’s move to inject new notes and coins into circulation in two weeks’ time has excited the market with economists saying this would restore normal transactions and weed out parallel market price distortions.


The Central Bank said on Tuesday that new $5 and $2 notes as well as $2 coins will be introduced within the next two weeks.These will be at 1:1 in value with the bond notes presently in circulation. RBZ said it decided to maintain lower denominations to avoid triggering inflation.Economist, Mr Kelleb Mloyi, said physical cash injection should tackle the two-tier pricing system that has been disadvantaging consumers who had no access to cash.


“It will increase money supply hence easing to a certain extent the liquidity crunch that has engulfed the economy for years now.“The increase in money supply means less bank queues and an end to the two-tier price system if the cash in circulation is adequate,” he said.Another economist, Mr Victor Bhoroma, said injecting more cash was good on the interim given the shortages of notes and called for tighter measures to guard against illicit cash deals and hoarding.


“The rationale for the introduction of the new notes and coins is purely to address cash shortages that has seen some businesses charging different prices for cash and electronic transactions.Mrs Nontokozo Ncube said the RBZ must ensure the interbank market was fluid by channeling more foreign currency on the interbank market to benefit importing businesses.Confederation of Zimbabwe Industries (CZI) past president, Mr Busisa Moyo, who is also the chief executive officer of Bulawayo-based United Refineries Limited also weighed in.

Governor John Mangudya's NEW notes and coins EXCITE market.THE Reserve Bank of Zimbabwe (RBZ)’s move to inject new notes and coins into circulation in two weeks’ time has excited the market with economists saying this would restore normal transactions and weed out parallel market price distortions.The Central Bank said on Tuesday that new $5 and $2 notes as well as $2 coins will be introduced within the next two weeks.These will be at 1:1 in value with the bond notes presently in circulation.


RBZ said it decided to maintain lower denominations to avoid triggering inflation.Economist, Mr Kelleb Mloyi, said physical cash injection should tackle the two-tier pricing system that has been disadvantaging consumers who had no access to cash.“It will increase money supply hence easing to a certain extent the liquidity crunch that has engulfed the economy for years now.“The increase in money supply means less bank queues and an end to the two-tier price system if the cash in circulation is adequate,” he said.Another economist, Mr Victor Bhoroma, said injecting more cash was good on the interim given the shortages of notes and called for tighter measures to guard against illicit cash deals and hoarding.“

Nhận xét

Đăng nhận xét

Bài đăng phổ biến từ blog này

Meghan Markle's shock family showdown in LA

The Markle family are again lashing out following new claims that Meghan Markle has not reached out to her father during the coronavirus crisis.In yet another explosive interview, Thomas Markle, 53, has claimed that his half-sister is still yet to check in on their 75-year-old father, Thomas Markle Sr.It comes just days after it was revealed that Meghan’s father-in-law, Prince Charles, is no longer in self-isolation after he had symptoms and tested positive for the life-threatening COVID-19 last month.“Meghan has not called [Dad] to ask how he is,” says Thomas. “It’s really, really, absurd Thomas, who insists he is in daily contact with their Mexico-based father, believes Meghan has shown zero concern for their elderly father.“She has made no effort to find out how he’s coping with this crisis, if he’s got enough food and supplies or if his health is OK,” Thomas continues.The Markle family are again lashing out following new claims that Meghan Markle has not reached out to he...
Đăng nhận xét
Đọc thêm

Prince William and Kate Middleton s anxiety over horrendous revelation

Prince William and Kate Middleton are believed to be “extremely concerned” for the wellbeing and safety of frontline health workers battling the coronavirus pandemic.Speaking on the Royal Rota podcast, ITV News Royal Editor Chris Ship and producer Lizzie Robinson revealed how Wills and Kate were confronted with the grim reality of COVID-19."On April 1, William and Kate spoke to staff at two hospitals, including the Queen's Hospital in Burton which is where sadly the first confirmed hospital frontline worker died from coronavirus,” Lizzie told listeners.Before the UK was plunged into lockdown, Kate and Prince William reportedly visited an NHS centre in south London to show their support for frontline workers. However, when confronted with the horrendous reality of the coronavirus crisis, the Duke and Duchess of Cambridge were left feeling extremely concerned.On the Royal Rota podcast, ITV News Royal Editor Chris Ship and Producer Lizzie Robinson spoke about how the roy...
Đăng nhận xét
Đọc thêm

Charles Beamed In From His Armchair To Open Hospital

ROBERT HARDMAN: Prince Charles beamed in from his armchair to open the 4,000 bed Nightingale Hospital in east London – but only after topping up the 40 minute basic Zoom service.This will, surely, go down as one of the most memorable achievements in the history of the National Health Service. .It was certainly marked by one of the more memorable opening ceremonies in the long plaque-unveiling history of the House of Windsor.Thus it was that the Prince of Wales opened the 4,000-bed Nightingale Hospital in east London yesterday – while sitting in his armchair in deepest Aberdeenshire.‘It is without doubt a spectacular and almost unbelievable feat of work in every sense,’ declared the prince as he saluted all those involved in the ‘mass mobilisation to withstand the coronavirus crisis’. It was just last week that the virus laid low the prince himself, although he appeared fully recovered as he spoke on a video screen in front of what is now Europe’s largest hospital..Just nine d...
Đăng nhận xét
Đọc thêm