The New Zimbabwe Bond Notes

Notes are 157 x 66mm approx.

2 dollar note was issued Nov 16, 5 dollar Feb 17, as far as I can make out from the web.

These notes are supposed to be accepted on par with greenbacks, but this is not happening. They are already being received badly. I have read of prices in smaller shops being listed three times, once for US$, once for these bond notes and once for cards. Differences can be 50% between the US$ and bond note. Larger shops are not allowed to do this, so prices are just increased.

Traders struggle with these notes because they cannot be used to buy imports - the notes are not accepted outside Zimbabwe. Traders accept the bond notes from customers, but then have to exchange them from money changers for US$ at a significant premium to buy goods outside the country. One source I read stated the premium was around 30%. No doubt this will increase.

Reports initially mention plans to introduce Z$10 and Z$20 notes, but the bank has stated they will not do this.

Sad times ahead again?