INFORMAL traders are rejecting $2 and $5 bond notes as well
as coins, money which the Reserve Bank of Zimbabwe (RBZ) has said is still legal
tender.
Police yesterday also warned those rejecting the notes that
they risk being arrested.
A Chronicle news crew spoke to some traders at fresh
produce markets and cash shops specialising in groceries, most of whom were
rejecting $2 and $5 bond notes.
They said their suppliers were not accepting the said
denominations and the smaller denominations were giving them headaches in
counting.
A grocery cash shop owner along Fifth Avenue between Fife
and George Silundika Street who identified herself as Emily Moyo said she
personally has no problems with the denominations, but her suppliers charge her
more when she pays using that amount.
Most of the suppliers say they have problems buying foreign
currency on the black market using the said denominations, hence their
rejection.
“When I pay for something that costs $1 000, if I have
small denomination bond notes I’m charged a 30 percent premium, so it is safer
not to take them at all,” she said.
Mr Shalima Muzive, a banana vendor in the city, said he
struggles to use the money at fresh produce markets as it was being rejected.
“The $2 bond note is the most widely circulating
denomination. when I accept it, I’m stuck with it,” he said.
Ms Susan Kurambwi-Chinoda who sells from City Hall taxi
rank said bulk airtime traders were not accepting the notes.
“I have tried many airtime bulk dealers but all day I have
not been able to use this money. The next option is to just go to a supermarket
and buy food or something else so that I dispose of it, but I will have lost
business,” she said.
In a statement, Reserve Bank Governor Dr John Mangudya said
all notes issued were still legal tender. RBZ Governor Dr John Mangudya
“The bank would like to advise the public that the notes
and coins issued by the bank and currently in circulation are still legal
tender. For the avoidance of doubt, the notes and coins which are legal tender
are bond coins, bond notes in $2 and $5, and bank notes in denominations of $2,
$5, $10 and $20,” Dr Mangudya.
“The bank would also like to urge members of the public who
wish to exchange coins and old notes for new ones to do so through their banks
which are mandated to serve their customers.”
Police have since warned people that rejecting legal tender
is breaking the law.
National police spokesperson Assistant Commissioner Paul
Nyathi said a number of businesses countrywide were refusing to accept legal
tender, which he described as problematic.
“The Zimbabwe Republic Police has noted with concern that
some business people especially informal traders are refusing to accept local
currency (coins, $2 and $5 notes) which is legal tender. The police will not
hesitate to enforce the law on anyone found to be disregarding the country’s
laws especially during this lockdown period.
“The public is again urged to report such errant people for
swift action to be taken,” he said. Chronicle
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