Banks dispense US$ as cash situation improves

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The cash situation has improved with some banks in Harare dispensing a combination of United States dollars and bond notes to depositors for the festive season.

The Reserve Bank of Zimbabwe Governor Dr John Mangudya says the improvement in cash availability is a result of the huge chunk of foreign currency imported by government to ease long queues and ensure people have access to money for the festive season and beyond.

Various indigenous banks were dispensing a combination of US dollars and bond notes starting on Thursday.

ZBC News caught up with some depositors in a jovial mood as they managed to withdraw their cash ranging from US$50 to US$100.

Some banks were dispensing cash from the ATMs while at some financial institutions, civil servants were withdrawing a maximum of US$300 at one go.

Meanwhile, the RBZ has urged people to be patient and desist from rushing to withdraw all their deposits as the first step taken under the new dispensation will see more foreign currency and bond notes being injected into the system during and after the festive season.