A nice idea

3 02 2015

Towards the end of last year Zimbabwe was abuzz with the news that bond coins were going to be introduced. The news was not well received and, despite strong denial from the Reserve Bank, rumours abounded that it was an attempt by the government to reintroduce the Zimbabwe dollar. I had seen one or two but up until today had not actually received any as change.

Small change

Small change

Small change is in notoriously short supply in Zimbabwe. South African coins (2 RAND lower right) have been useful in that they are roughly 1/10 the value of a dollar (so the 2 RAND coin is valued at 20c) but obviously they have to be bought at least the face value plus some sort of commission. The bond coins, which are minted in South Africa, are pegged at equal to the US dollar though they have no value outside the country. They certainly cost less to produce than their face value. A nice idea and certainly preferable to receiving ball point pens or sweets as change which was the case. People receiving lots of coins, such as the mini bus drivers, can go and change the coins at the end of the day for paper money at a bank. Except, as Shelton tells me, most refuse to accept them.

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One response

4 02 2015
Sybille

For me, in Harare, no change was a good excuse to replace the unobtainable coin by some candies. I did not grow up on certains points..

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