CBZ To Solve Change Headaches In Zimbabwe

In a statement CBZ said people or businesses can approach any of its branches across the country to get coins in exchange of notes.

“CBZ bank is offering South African coins, 1R, 2R, 5R in exchange for South African bank notes at a rate of 1 to 1 or United States Dollars (USD) at the rate of the day. Please call us or visit any of our branches country wide,” the CBZ said in a statement.

Zimbabweans since adopting the multi-currency system have been facing problems in getting their change from shops or businesses as small denominations and coins were hard to find.The country now uses currencies such as the United States dollars, South African rand and the Botswana pula.

In Commuter Omnibuses operators have been giving commuters signed tickets or three trillion dollars Zimbabwean dollars as change to use in their next trips.

Shops and businesses were also offering vouchers as change for smaller denominations as they have been failing to access smaller denominations.

Addressing parliament in his Mid Term Fiscal policy statement, Finance Minister, Tendai Biti hinted that the country might import coins from neighbouring South Africa to avert change problems that has seen businesses over–pricing their products to round up the prices.

When the country adopted the multiple currency system early in 2009, the country was advised to adopt the South African rand but President Robert Mugabe at that time argued that the country did not need to adopt the rand as the Zimbabwean dollar was expected back in circulation.