John Panonetsa Mangudya's RBZ raises weekly cash withdrawal limit


The RBZ has released $30 million of new notes and coins to commercial banks, with account holders accessing their cash from banks starting from today (Tuesday).

RBZ governor John Mangudya on Monday addressed reports that the central bank had failed to release cash to banks on Monday.

Mangudya said: "It’s not true that there is no money (released to the market). The banks are collecting the money, so today (Monday) is the day for collection of the money.
Those ones that were able to be served in the morning should be able to give their customers."

Individuals will be able to withdraw a maximum of $300 per week as the RBZ said it has put measures in place to counter the channelling of cash from banks to the black market.

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