Zimbabweans queue outside banks as new currency begins trading

A man holds bond notes released by the Reserve Bank Of Zimbabwe in Harare central business centre on November 28, 2016. The central bank opened trading of a new currency on February 22,2018. PHOTO | WILFRED KAJESE | AFP 

By REUTERS
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Queues formed outside banks in the Zimbabwean capital Harare on Friday as the central bank opened trading of a new currency, a Reuters witness said.

Zimbabwe’s central bank announced on Wednesday that it would scrap the peg between its quasi-currency bond note and the US dollar, creating a new currency from the bond notes and notional electronic dollars that will be known as RTGS dollars.

The central bank sold banks US dollars at a rate of 2.5 RTGS dollars on Friday morning, governor John Mangudya said.