The Reserve Bank of Zimbabwe has set the cash transaction limit at $100 per transaction with immediate effect.
This was revealed by the central bank in a statement released today.
“To this end, Payment System Providers are hereby advised that the cash-out facility is now capped at $100 per transaction with immediate effect.
“Related to that, existing operational cash in and cashback limits shall remain,” reads the statement.
The central bank also said it will be introducing more cash into the economy but this will not increase the money supply.
“Further to that, the Reserve Bank will be injecting cash into the economy without changing the money supply. In this regard,banks will exchange existing RTGS balances for cash thus maintaining the monetary base unchanged,” reads part of the statement.
This comes after the Reserve Bank on Monday this week banned Cash In, Cash Out and Cashback transactions.
Below is the statement.