The Reserve Bank of Zimbabwe announced today that it will soon issue a 100 dollars banknote (ZML100.1).
The new banknote will have in its front the logo of the Reserve Bank, and in the back the Great Zimbabwe Monument and a baobab tree.
According to the statutory instrument, the $100 shall be issued in terms of section 40(3) of the Reserve Bank of Zimbabwe Act [Chapter 22:15]. The design of the one hundred dollar banknote shall be as follows:
(a) on the front side, the dominant feature shall be the logo of the Reserve Bank of Zimbabwe (three balancing rocks), with the visually impaired recognition feature to the left, a latent image showing the denomination, windowed security strip inscribed “RBZ” with a colour shift from red to green, watermark with the highlighted inscription “RBZ” and see-through of Zimbabwe Bird looking to the left in perfect register, as secondary features; and
(b) on the back side, there shall be an impression of the Great Zimbabwe Monument and the Baobab Tree, a gold-coloured iridescent band showing the denomination of the note and see-through of the Zimbabwe Bird looking to the right.
At the current bank rate of exchange the new note is worth some 68 U.S. cents, or 40 U.S. cents in the informal market.
The previous notes of 2 dollars (ZML2.1) and 5 dollars (ZML5.1) have been demonetized. Their value was a few U.S. cents each.
A Zimbabwean teacher who doubles as a street trader in central Harare commented that the issue of 100 dollar bills will make people reject the smaller ones of 10; 20 and 50 dollars.
Courtesy: Cleophas Schockem.
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