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Zimbabwe to start using bank-issued notes, a 1st since 2009
HARARE, Zimbabwe – A bank official says cash-strapped Zimbabwe soon will begin using notes issued by its own reserve bank for the first time since 2009.
Reserve Bank of Zimbabwe governor John Mangudya said Thursday that the notes will trade at par with the U.S. dollar, the main currency used in this southern African country. Zimbabwe abandoned its own currency due to hyperinflation in 2009.
Mangudya says the notes will not mark a return to the Zimbabwe dollar.
Zimbabwe will start using the notes in October. Mangudya says $75 million worth of the notes will be in circulation by the end of the year.
Zimbabwe has seen several protests against the notes since Mangudya first mentioned them in May.
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