Central Bank governor urges business to reduce prices

The governor of the Reserve Bank of Zimbabwe John Mangudya has urged the business community to further reduce their prices because small change is now readily available.

Mangudya said the introduction of bond coins last year had resulted in a price correction that had benefitted the public but there was need to reduce prices further.

“Evidently, the introduction of bond coins has resulted in price correction processes that have benefited the transacting public, as small change is now easily available,” he said in his monetary policy statement yesterday.  

“The Bank continues to implore business to further realign their prices for the benefit of the consumers.”

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Bond Coins

The Reserve Bank is very grateful to all stakeholders from the retail, transport, informal traders, consumers and business organizations who have made the bond coins initiative a success.

As highlighted when we introduced bond coins in December 2014, the 50c coin was introduced on 31 March 2015, to circulate alongside the smaller denominated coins that were introduced on 18 December 2014. Acceptance of the bond coins has also benefitted from the progressive weakening of the South African rand, as the transacting public prefer to minimize exchange losses by shifting to the use of bond coins.

Evidently, the introduction of bond coins has resulted in price correction processes that have benefited the transacting public, as small change is now easily available. The Bank continues to implore business to further realign their prices for the benefit of the consumers.

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