The Reserve Bank of Zimbabwe will on Wednesday introduce a new 200,000-Zimbabwe-dollar bearer cheque to improve convenience to the public, The Chronicle reported Tuesday.
The new bearer cheque has security features such as a security thread with the letters RBZ imprinted on it as well as a Zimbabwe bird watermark with an RBZ highlight, the newspaper said.
It is the first release since the bank issued a new set of bearer cheques in August last year under the first phase of Project Sunrise. At the time, the central bank rebased the Zimbabwe currency by removing three zeros.
The new 200,000 dollar cheques reduce the need to carry large bundles of paper money as more people enjoy some shopping convenience after the government directed that prices be reduced to affordable levels four weeks ago.
Bearer cheques are a form of temporary currency first introduced four years ago when Zimbabwe faced an acute shortage of bank notes.
The central bank has said that it has new currency ready for distribution under the second phase of Project Sunrise.
Source: Xinhua
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