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Author Topic: [2016-05-06] Zimbabwe Banks Lack Cash Reserves To Honor Customer Withdrawals  (Read 145 times)
jdebunt (OP)
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May 06, 2016, 02:06:51 PM
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For the time being, the central bank is looking to print bond notes, which would be tied to the US Dollar value kept in the country’s reserves. Moreover, withdrawals will be limited to US$1,000 per day, and people are advised to use either Euros or South African rand. That latter is not a viable option either, though, considering the rand lost 20% of its value compared to the US Dollar in the past twelve months.

http://bitcoinist.net/zimbabwe-banks-lack-cash-reserves-to-honor-customer-withdrawals/
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