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Chaos as RBZ extends Z$200 000 notes lifespan

The Reserve Bank of Zimbabwe (RBZ) made a spectacular policy summersault on New Year's eve by indefinitely increasing the lifespan of the $200 000 bearer cheques which were due to be phased out on January 1, 2008.

2 Jan 2008

Central Bank governor Gideon Gono told journalists in Harare that the extension of the note, which he had de-monetised on December 19, has been necessitated by the incessant rains which hampered the cash swap exercise in remote rural districts.

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