RBZ removes “Bond Note” inscription on new currency

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By Leopold Munhende

THE Reserve Bank of Zimbabwe (RBZ) has released the main features of the country’s new currency effectively re-designated in June but having had its place held by the surrogate bond notes indicating the only major difference will be the removal of the words “bond note”.

The new currency is due this month according to RBZ Governor John Mangudya.

According to RBZ’s Statutory Instrument 231 of 2019, the two dollar note will maintain a green colour and a dominant feature of Parliament on one side and balancing rocks on the other, similar to its two bond  note.

The five dollar note will also maintain its purple colour, a dominant feature of the three giraffes and three palm trees.

“There shall be issued, in terms of the Act a two dollar banknote and a five dollar banknote.

“On the front side of both the two dollar note and the five dollar note the dominant feature shall be the logo of the RBZ (three balancing rocks) with the visually impaired recognition feature to the left, latent image showing the denomination, optical variable ink with colour shift from gold to green, security thread with the inscription ‘RBZ’ and see through of the Zimbabwe bird looking to the left in perfect register,” the Apex Bank said in the Government Gazette.

“In respect of the two dollar note, on the back side there shall be an impression of the Parliament of Zimbabwe Building and the Eternal Flame. In respect of the five dollar note, on the back side there shall be an impression of three giraffes and three palm trees.”

Mangudya announced last week that the RBZ will be introducing the new notes as a way of dealing with cash shortages as well as bringing the currency reforms to finality.

The Zimbabwe dollar makes a return 10 years after it imploded out of circulation as the country’s economy took a hit from a combination of bad policies and especially the effects of the land reform programme as well as political bickering.