Tuesday, 29 November 2016

BOND NOTES : DAY TWO

Bond notes continued to gain public confidence with several people and businesses banking on the new currency to alleviate prevailing cash shortages. Yesterday marked the second day of bond notes in circulation.The transacting public was using bond notes interchangeably with the US dollar notes without any challenge.

A survey by The Herald showed the public had already built confidence in the new currency, which is pegged at 1:1 with the US dollar.

The Herald witnessed only one incident of a Service Station in Tynwald South that was totally rejecting the notes.

A fuel attendant at Kirkman service station in Tynwald South said they were told by their superiors not to accept the bond notes.
Vendors who spoke to The Herald welcomed the introduction of bond notes, which came in denominations of $1, $2, and $5.

A vendor at Simon Muzenda bus terminus in Harare said the bond notes were a welcome relief in the face of cash shortages.

“We are happy that the bond has finally come,” she said. “They are an answer to the cash crisis that we have been facing for the past months. The problem with Zimbabweans is that we don’t want to embrace change,” she said.

Mr Tafadzwa Makone, who withdrew money at one of the financial institutions in the Harare central business district said: “We were sick and tired of waiting for long hours in meandering bank queues on a daily basis to withdraw our salaries.

A Trek Petroleum Service Station in Harare had different prices for those who were paying with hard cash and those using plastic money.

Those paying cash bought the fuel at lower prices, while it was a bit higher for those using plastic money. For instance diesel was going for $1,14 for those using cash while those using plastic money had to pay $1,20, practically devaluing the US dollar against itself. herald

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