RBZ Issues ZW$50 Banknote

The Reserve Bank of Zimbabwe has issued a higher denomination note, the ZWL $50 which will come into circulation tomorrow.

The $50 comes in addition to the $2, $5, $10, and $20 banknotes that are already in circulation.

RBZ governor John Mangudya announced the development in a statement on Tuesday.

“The Reserve Bank of Zimbabwe (the Bank) wishes to advise the public that the ZW$50 banknote issued on 6 July 2021 through Statutory Instrument 196 of 2021 will be introduced into circulation on 7 July 2021.”

“The Bank shall release ZW$360 million through the normal banking channels and banks are expected to fund their respective accounts held at the Reserve Bank and collect the cash from 7 July 2021,” reads the statement.

RBZ made an announcement in January that the Bank) is working on the introduction of a Z$50 banknote into the market for the convenience
of the public.