MORE DETAILS: John Mangudya’s RBZ set to introduce new $100 note

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THE Reserve Bank of Zimbabwe (RBZ) is set to introduce a new $100 note to improve convenience for the public.

As a direct response to resurgent inflation, the monetary authorities this week moved in to harness inflationary pressures and stabilise the volatile parallel market exchange rate by increasing key interest rates and cutting down the quarter target for money supply growth.

While month-on-month inflation declined from 6,99 percent in February 2022 to 6,31 percent in March 2022, authorities are concerned with the rise in annual inflation from 66,77 percent to 72,70 percent.

According to a Government Gazette, the monetary authorities are introducing the $100 note in terms of section 40 (3) of the RBZ Act (Chapter 22:15).

— Herald


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