New currency in the streets: RBZ launches investigation

THE Reserve Bank of Zimbabwe has launched an investigation to bring to book banks which flooded the black market with the new notes, the Zim Morning Post can reveal.

Zimbabweans, on tuesday, woke up to the introduction of the new notes and coins which was delayed by 24 hours as most banks collected their allocations Monday morning, the day the notes were scheduled to be launched.

However, before banks were opened on Wednesday morning the new notes were already in the streets with black market traders showing off hordes of the new two and five dollar notes.

In an interview with this publication the RBZ boss John Mangudya said an investigation has been launched and culprits will be brought to book.

We have launched an investigation and banks that will be found guilty will be heavily penalised,” Mangudya said.

“Our task has been made easier because some notes we are seeing on social media have serial numbers.

I think you are aware that banks collected their allocations on Monday morning so we know which bank got notes with which serial numbers.”

Each bank was allocated notes with certain serial numbers so the investigation is half done already,” he said.

Source: Zimmorning Post