New $2 bond coin to hit market next week

By Anyway Machani

THE Reserve Bank of Zimbabwe (RBZ) says it has minted a new two dollar bond coin which will make its debut next week.

In a statement, the central bank said the new coin which is expected to ease the liquidity challenges in the market will complement the $2
note that is already in circulation.

“In line with the pronouncement made in the 2019 Mid-term Monetary Policy Statement and the Press Statement of 2 October 2019 to increase the level of physical cash in circulation, the Reserve Bank of Zimbabwe wishes to advise the public that with effect from 11 November 2019, it shall issue a two-dollar bond coin which will circulate alongside the two-dollar bond note,” read the statement.

The new coin comes at a time when the citizenry is being charged a 40% premium to access money from their mobile money wallets as the banking
sector is equally dry.The two-dollar bond coin will have bi-metal features with the outer rim being copper-nickel plated and the inner core being aluminum-bronze plated. The new coin will also boast of a serrated rim profile with a groove and edge lettering.

The words “Two Dollar Bond Coin” will be inscribed on the coin while the numeral and symbol “2$” will be inscribed on the observe side. In addition, inscription of the letters “RBZ” and the numeral “2018” can also be seen on the reverse side.

“The public is also advised that all bond coins and bond notes shall circulate alongside, and shall be interchangeable with, the two and five dollar banknotes issued in terms of Statutory Instrument 231 of 2019,” read the statement.

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