Zimbabwe has begun printing new notes in $10 and $20 denominations at a time when annual inflation stands at 926%, according to a state media report.
Citing Reserve Bank of Zimbabwe monetary policy committee member Eddie Cross, the Sunday Mail report said the decision was “imminent” to increase liquidity in the market.
“The plans are advanced and higher denomination notes will be made available to the public sometime later this month. The Reserve Bank will make the announcement. They are being printed and the appropriate date will be announced soon,” Cross said. He added: “We are moving cautiously because we don’t want to disturb the monetary balance and we are insisting that banks pay for the currency when they draw it so that there is no money creation.”
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