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The Reserve Bank of Zimbabwe (RBZ) will this week release a second tranche of bond notes worth $7 million, as it pushes ahead with the currency.

 

The release will be the second inside two weeks, following the introduction of bond notes worth $10 million last Monday.

 

In a statement yesterday, RBZ governor, John Mangudya said the bond would be in $2 denominations notes.

 

“In line with the strategy to release the bond notes on a measured or drip-feed basis, the bank would like to advise the public that it is releasing the second batch of $2 bond notes amounting to $7 million this week,” RBZ said.

“This brings the total amount of bond notes disbursed to $17 million against a value of $70 million payable to exporters of goods and services under the export incentive scheme.”

 

Mangudya said the $5 bond notes would be released into the market in due course.

 

“Going forward, the bank shall continue to publicise information on the release of bond notes into the market in order to uphold its commitment to transparency which is above reproach,” he said.

 

The bond notes are coming under a $200 million export incentive facility guaranteed by the African Export Import Bank to boost local industries and generate more export receipts.

 

However, they have failed to reduce queues in banking halls.