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US Dollars Return To Banks And ATMs…

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US dollars, money, cash, 100 dollar bills

Information that is circulating online is indicating that the US dollar has made its way back to the economy.

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For some who are out of the country this may seem to be silly news, but for the past few months seeing a $20 note was a rarity that could necessitate the family head to summon everyone in the household to come have a look at it!

The $50 and $100 notes were even more difficult and you stood a better chance of getting a resignation from a President who was in office for 37 years than seeing these notes.

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https://twitter.com/YoungMudhara/status/934851247269732353

Various tweets, Facebook posts and WhatsApp message circulating are pointing towards not only are banks dishing out US dollars but ATMs have started working again. ATMs working is a big deal, in that most of the financial institutions in the country have been compelling customers to come into their banking halls to access cash, as all they were dolling out were coins.

A look at recent figures from the Reserve Bank of Zimbabwe, a paltry $11m only was dispensed in a week from the banks, while $2bn worth of transactions were processed.

The return of the US dollar to the market will make many happy and expectant of reactivation of customer’s bank cards being able to make online and external payments out of Zimbabwe.

Talks of black market rates for the greenback going down have been circulating as well, with rates said to be as little as 40% extra, from as high as 90%.

This might be premature celebrations though as just yesterday we published a notification from Barclays that they’ll be discontinuing DStv payments, a transaction that most banks require people to pay in US dollars. When banks accept any means of currency from customers and settle DStv in USD then we can bring out the champagne.

Has your bank started issuing USDs? Do you really need US dollars to make local payments? Would it not be better for you to get bond notes that you can transact with locally?

Reserve Bank of ZimbabweBond NotesDStv

The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About Reserve Bank of Zimbabwe

Bond Notes are a currency of notes backed by a bond that the Zimbabwe government announced on 4 May 2016 by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya. The $2 denomination of the notes was finally introduced on 28 November 2016. More notes were... Read More About Bond Notes

DStv is a Pay TV service owned by South African company, Multichoice. DStv provides a broad spectrum of entertainment, news and information channels subscribed to via bouquets. Bouquets have a pre selected number of channels. In Zimbabwe, the DStv service is provided by Multichoice Zimbabwe,... Read More About DStv

13 thoughts on “US Dollars Return To Banks And ATMs…

  1. I got USD from Barclays yesterday but international payments is more important we await the opening up of online payments on our cards

  2. I was by Barclays Pearl House this afternoon to pre-fund my Visa card. I asked the teller whether their ATM’s have started dolling out the greenback, and she said no. People were queued outside waiting for bond notes. Such claims need to be verified, it seems this is just social media at its worst.

  3. You have to be quite dumb to believe that there is now magically USD cash available at banks in Zimbabwe!

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