{"id":17147,"date":"2019-12-23T17:40:12","date_gmt":"2019-12-23T15:40:12","guid":{"rendered":"https:\/\/www.africa-press.com\/zimbabwe\/?p=17147"},"modified":"2019-12-23T17:40:12","modified_gmt":"2019-12-23T15:40:12","slug":"rbz-injects-additional-20m-into-circulation","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/economy\/rbz-injects-additional-20m-into-circulation","title":{"rendered":"RBZ Injects Additional $20m Into Circulation"},"content":{"rendered":"<p>THE Reserve Bank of Zimbabwe has injected an additional $20 million of banknotes into circulation, with much of it channelled to the People\u2019s Own Savings Bank (POSB).<\/p>\n<p>However, the latest cash injection seems not to have done much in easing the demand for hard cash as witnessed by the long winding queues at the banks. Some depositors were forced to sleep outside banking halls waiting to withdraw their money.<\/p>\n<p>Finance Minister Mthuli Ncube confirmed the injection of the $20 million.<\/p>\n<p>\u201cIn the last week alone, we have put in about $20 million,\u201d he said.<\/p>\n<p>\u201cWe targeted POSB specifically, but not exclusively, because we know that a lot of our ordinary citizens are banking with them and it\u2019s important that they have all the cash that they need.\u201d<\/p>\n<p>Depositors said they still faced challenges obtaining cash from banks, adding that they observe the situation was getting worse.<\/p>\n<p>Economists say while the <a href=\"https:\/\/www.rbz.co.zw\/\">RBZ<\/a> was right to increase cash in circulation given the high demand, it would take time before cash queues start to subside.<\/p>\n<p>The recommended cash levels in circulation are 10 percent to 15 percent of money supply, which is presently estimated at $19 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>THE Reserve Bank of Zimbabwe has injected an additional $20 million of banknotes into circulation, with much of it channelled to the People\u2019s Own Savings Bank (POSB). However, the latest cash injection seems not to have done much in easing the demand for hard cash as witnessed by the long winding queues at the banks. [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":14427,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[239,653],"class_list":{"0":"post-17147","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-economic-chaos","10":"tag-rbz"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RBZ Injects Additional $20m Into Circulation - zimbabwe<\/title>\n<meta name=\"description\" content=\"THE Reserve Bank of Zimbabwe has injected an additional $20 million of banknotes into circulation, with much of it channelled to the People\u2019s Own Savings\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/economy\/rbz-injects-additional-20m-into-circulation\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBZ Injects Additional $20m Into Circulation\" \/>\n<meta property=\"og:description\" content=\"THE Reserve Bank of Zimbabwe has injected an additional $20 million of banknotes into circulation, with much of it channelled to the People\u2019s Own Savings\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/economy\/rbz-injects-additional-20m-into-circulation\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2019-12-23T15:40:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/2019\/10\/RBZ-Street-1024x461.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"461\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/economy\/rbz-injects-additional-20m-into-circulation\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/economy\/rbz-injects-additional-20m-into-circulation\",\"name\":\"RBZ Injects Additional $20m Into Circulation - 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