Shamila Ntokozo Mdlongwa
Reserve Bank of Zimbabwe has issued a statement notifying the public of the introduction of a new hundred dollar bill.
According to a statutory instrument issued by the RBZ, the $100 note shall be introduced in terms of section 40(3) of the Reserve Bank of Zimbabwe Act [chapter 22:15].
The design of the $100 note will be as follows;
On the front side of the dominant feature shall be the logo of the Reserve Bank of Zimbabwe (balancing rocks), with the visually impaired recognition feature to the left, latent image showing the domination windowed security strip inscribed ‘RBZ’, with colour shift from red to green, watermark with highlighted inscription ‘RBZ’ and see-through Zimbabwe bird looking to the left in perfect register as secondary features;
On the back side there shall be an impression of great Zimbabwe Monument and the Baobab Tree, gold coloured iridescent band showing the domination of the note and see through of the Zimbabwe Bird looking to the right.
The ZWL$100 shall be brown in colour.
Currently there is in circulation of $10, $20 and $50 Zimbabwe Bank notes in the market which are used by the public as a medium of exchange after the $2 and $5 notes were supposedly decommissioned due to the rising inflation in the country.
This new development comes at a time when the local currency is gradually depreciating, with the current exchange rate now at US$1: ZWL$145 on the RBZ forex exchange and US$1: ZWL$275 on the parrel market.
The banknotes will however help in reducing the carrying of wads of money yet shoot the inflation rate right through the roof.
Zim GBC News