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Zimbabweans queue to return old banknotes

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Zimbabweans queue to return old banknotes

Post by shammy on Sat Dec 29, 2007 3:47 pm

29th December,2007

Zimbabweans formed queues at banks on Saturday to beat a December 31 deadline to hand in a currency series phased out by the central bank.

Reserve Bank chief Gideon Gono declared that the Z$200 000 note would become worthless as he introduced three new banknotes in a bid to tackle a shortage of the local currency in the country.

Depositors wishing to withdraw scarce cash and those handing in the expiring bills formed parallel queues in banks in the capital as the central bank ordered banks to extend business hours on Saturday and Sunday.

"I am just hoping today [Saturday] I will be able to get cash," said George Chapfunga, waiting in a queue in central Harare, saying he had been coming to the bank since Wednesday.

Some depositors were confused as some banks were still dispensing the bank notes due to expire on Monday while some shops were refusing to accept the Z$200 000 bearer cheque.

http://www.mg.co.za/articlePage.aspx?articleid=328704&area=/breaking_news/breaking_news__business/
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shammy

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