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New Notes Flood the Black Market

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The new $2, $5 notes flood the black market a day after release.

Reserve Bank of Zimbabwe injected $1 billion into the market to ease cash shortages in the country and permitted a maximum of ZW$300 a week per the ordinary person.

However the cash was displaced into all banks in the country to allow withdrawal, but by end of the day, the new notes had flooded the black market, with cash dealers in possession of ‘still sealed' blocks of new notes.

The mere citizen still has not had had access to the new notes.

Social media is awash with questions of how the money got into the hands of the cash dealers.

Below are the comments from twitter:

However, the Ministry of Informations and publicity on twitter responded that the matter was now under investigations

“The government through the RBZ is investigating allegations of abuse of newly released banknotes. Cash was collected by banks using their CIT vehicles on Monday. All serial numbers were recorded in the register. The offending banks will be named and sever action taken” said the Ministry of information on twitter.

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Philomina

Social writer and digital marketing personnel.

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