The Reserve Bank of Zimbabwe has announced that it will be releasing the new $50 banknote next week. The $50 note will go into circulation on Tuesday, July 7, while the $50 note will go into circulation in the second week of July. Central bank will issue ZW$360 million of the bills into the market through banks.
To manage money supply, RBZ swaps the physical notes for electronic balances (RTGS) each time it releases notes into the market.
We are not yet sure if the bank has raised the weekly withdrawal limits. The central bank also released images which show how the new $20 banknotes will look like.
Below is the statement from the RBZ announcing the release dates of the new notes which Techunzipped is publishing in its entirety.
The design of the fifty dollar banknote shall be as follows –
(a) on the front side the dominant feature shall be the logo of the Reserve Bank of Zimbabwe (three balancing rocks), with the visually impaired recognition feature to the left, latent image showing the denomination, windowed security strip inscribed “50” with colour shift from red to green, watermark with highlighted inscription “RBZ” and see-through of Zimbabwe Bird looking to the left in perfect register, as secondary features; and
(b) on the back side there shall be an impression of the Tomb of the Unknown Soldier and the motif of Mbuya Nehanda, gold coloured iridescent band showing the denomination of the note and see-through of Zimbabwe Bird looking to the right.