Zimbabwe doubles daily withdrawal limit
by Richard Kilner
Story link: Zimbabwe doubles daily withdrawal limit
The Reserve Bank of Zimbabwe has increased the daily limit on cash withdrawals.
The limit, which had been $5bn, has risen to $10bn for individuals and companies.
The RBZ has also released advice to farmers, urging them to use increased revenue streams to invest wisely in preparation for the next farming season.
The central bank condemned the alternative, which it described as “unusually high propensities and exuberance to consume”.
Given Zimbabwe’s sky high inflation, shortage of cash, chronic unemployment and lack of basic goods, the central bank’s concerns about rampant consumerism are unlikely to be realised.
Add to Bookmarks:
Related stories to: Zimbabwe doubles daily withdrawal limit
Zimbabwe increases withdrawal limit twenty fold ... $250m bank note released in Zimbabwe ...
Printers stop providing Zimbabwe with banknote paper ...
A&L softens overdraft charges ...
Japan Post Bank wants ordinary deposit limit abolished ...
No Comments »No comments yet.
Leave a commentPrevious: « RBNZ supports bolstering settlement systems
Next: HBOS rights issue in jeopardy »
Visited 1003 times, 1 so far today