New Released Low Zim Bond Notes Tomorrow . Oct 3rd .

[blueskyline]

Oh Boys and Girls ! ....http://www.myzimbabwe.co.zw/news/8569-latest-bond-notes-to-be-released-on-3-october.html 

[Freedomwish]

Is this really happening?  What's the rate prediction set?  I'm confused now...

[blueskyline]

They have been talking of releasing a new Low Denominated Bond not equal to the dollar for about 2 or 3 months .These new bond notes are supposed to be equal to the dollar . Yes . It looks like it really happening .

[blueskyline]

They have been talking of releasing a new Low Denominated Bond not equal to the dollar for about 2 or 3 months .These new bond notes are supposed to be equal to the dollar . Yes . It looks like it really happening .But there is no talk of the older notes at this time . May not ever be . But its interesting that they are yet another country releasing lower denoms equal to a US Dollar at this particular time . Something is in the works

[screwball]

Hmmmm.interesting sound like removing some zeros! I only have one note! 500,000 I think not worth ****!

[blueskyline]

News

Zimbabwe new 2- and 5-dollar bond notes reportedly to be introduced 28.12.2016

Nov 26, 2016 02:02 PM Category: Africa

According to a press release dated 26 November 2016:

PRESS STATEMENT ON THE INTRODUCTION OF BOND NOTES
The Reserve Bank of Zimbabwe is pleased to advise the nation of the introduction of bond notes with effect from Monday, 28 November 2016. The bond notes will be released into the market through normal banking channels in small denominations of $2 and $5 to fund export incentives of up to 5% which will be paid to exporters of goods and services and diaspora remittances. The initial release of bond notes shall be in an amount of $10 million in denominations of $2 and $2 million in $1 bond coins. The features of the bond notes will be released simultaneously with the bond notes.
The use of bond notes within the multi-currency exchange system which are anchored to the US$200 million facility will operate along the same lines as bond coins. They are pegged 1:1 to the US dollar. The banking public is advised that no new accounts will be opened as the bond notes would be deposited into existing US dollar accounts.
In line with the Bank’s thrust to promote a less cash society through the use of plastic money, withdrawal limits of bond notes have been set at a maximum of $50 per day and a maximum of $150 per week. This measure is in tandem with the objective of the Bank to release bond notes into the market on a measured basis which is critical to mitigate against abuse of bond notes.
The Reserve Bank has engaged and agreed with the Retailers Association of Zimbabwe, fuel companies, representatives of the various business associations and the Consumer Council of Zimbabwe on the use and acceptability of bond notes as a medium of exchange in the country.
The Reserve Bank would like to request the public to report any form of malpractice and abuse of bond notes including but not limited to hoarding, defacing, disfiguring or unlawful use of notes and manipulation by person or banks or currency dealers or traders in connection with the use of bond notes.
Such malpractices should be reported to the Reserve Bank of Zimbabwe on toll free numbers Telone – 08006009 and Econet – 08086770.
Reserve Bank of Zimbabwe 26 November 2016

[blueskyline]

https://www.google.com/amp/www.bbc.co.uk/news/amp/38128236?client=safari

Zimbabwe note launch stokes currency fears

• 28 November 2016
•  
• Business

Zimbabwe has launched its own money for the first time since the country's dollar was abandoned seven years ago amid rampant inflation.

The bond note, which is worth one US dollar - the country's main currency since 2009 - is raising fears of a return to the ill-fated local dollar.

The notes, first announced in May, have fuelled some of the biggest protests in a decade against President Mugabe.

The government insists the bond note is not an official currency.

It is introducing the new notes to tackle a worsening cash shortage and halt the flow of US dollars going out of the country, a move welcomed by business groups.

Initially, an amount worth $10m is being introduced into circulation in two and five dollar denominations.

Bond notes: Zimbabwe's unofficial kick-start currency

Why Zimbabweans are spending the night outside banks

However, major opposition parties, workers and civil society groups are planning further protests this week.

And in the run-up to the notes' release, Zimbabweans queued for hours to withdraw their US dollars amid fears the bond notes would not be able to keep parity.

Analysis: Matthew Davies, Editor of BBC Africa Business Report

The Reserve Bank of Zimbabwe has always steered clear of referring to the new bond notes as currency. 

For ordinary Zimbabweans, memories of the collapse and demise of the Zimbabwean dollar in 2009, and the hyperinflation that caused its destruction, still rankle. 

So, it's a question of "when is a currency not a currency?" 

Withdraw from a bank today in Zimbabwe and you'll be issued with bond notes, which are officially interchangeable with the US dollar at a rate of one to one. 

You can take the notes to the shops and exchange them for goods. All very well and good, you'd think. 

But what a currency needs is confidence, and on the streets of Harare there seems to be precious little of that. 

There were few alternatives for the Reserve Bank - the economy is experiencing a chronic shortage of US dollars, which have been the main currency of use for the past seven years. 

But such is the fear that the bond notes will be unable to hold their parity with the dollar that their introduction has sparked the largest anti-government protests in years. 

If the current experiment with bond notes even looks like taking a step backward to the hyperinflation of seven years ago, not only will the economy's very survival be in jeopardy, so too will the government's.

Zimbabwe's central bank has assured people the notes' release will be controlled, including weekly withdrawal limits of $150 worth.

The government also said the notes would have no value outside of Zimbabwe.

They will become one of nine currencies accepted as legal tender in the country.