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The Reserve Bank of Zimbabwe (RBZ) has introduced a new $50 dollar note, which goes into circulation tomorrow.
RBZ Governor Dr John Panonetsa Mangudya announced the development through a press statement Tuesday afternoon.
“The RBZ (the Bank) wishes to advise the public that the ZW$50 bank note issued on July 6, 2021 through Statutory Instrument (S.I.) 196 of 2021 will be introduced into circulation on July 7, 2021.
“The Bank shall release ZW$30 million through normal banking channels and banks are expected to fund their respective accounts held at the RBZ and collect the cash from July 7, 2021,” reads the statement.
According to S.I. 196 of 2021, the note will have the following features:
“On the front side the dominant feature shall be the logo of the RBZ (three balancing rocks), with the visually impaired recognition to the left, latent image showing the denomination, windowed security strip inscribed ‘50’ with colour shift from red to green, watermark with highlighted inscription ‘RBZ’ and see-through of the Zimbabwe bird looking to the left in perfect register, as secondary features.
“On the back side, there shall be an impression of the Tomb of the unknown soldier and the motif of Mbuya Nehanda, gold coloured iridescent band showing the denomination of the note and see-through of the Zimbabwe bird looking to the right.”
The note will be dominantly brown in colour. Nhau/Indaba
