No New Notes For Zambia-BOZ Emphasizes

The Bank of Zambia has dismissed media reports suggesting that it intends to introduce bank notes higher than that of K50, 000.
Bank of Zambia Deputy Governor Dr. Austin Mwape told journalists at the ongoing Zambia International Trade Fair during a tour of the stand Saturday afternoon the bank of Zambia had no immediate plans of producing higher notes.
However Dr. Mwape noted that coins may be reintroduced but only over a long period of time.
Recently it was reported that the Bank of Zambia was in the process of introducing kwacha notes of higher value, beyond the current 50,000.
It was reported that the revision of the current notes in circulation has since commenced, which will lead to a phase out period of banknotes with lost value as well as the possible re-introduction of coins.

Posted by Admin on July 5, 2011. Filed under BUSINESS. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.