The $200 000 bearer cheques that Reserve Bank Governor Gideon Gono had threatened to phase out have been thrust back into circulation until further notice, The Zimbabwe Gazette can reveal.

$200 000 Bearer Cheques Still In Circulation Despite Gono`s Call To Phase Them Out!

Sources at the banks revealed that a circular had been sent by e-mail from RBZ ordering the banks to inject the $200 000 back into circulation.

“There was an e-mail from the RBZ this morning ordering us the give out the notes. There has been no deadline given and we believe the $200 000 bearer cheques are back in circulation for good,” said a source.

Gono has called a press conference this afternoon where an official announcement is likely to be made.

A number of clients who spoke to us confirmed that they had received the ‘cursed’ bearer cheques from the banks ending speculation on the fate of the cheques that were supposed to be phased out today.

It was not until a number of clients had been shown the circular e-mail from RBZ that they agreed to take back the notes.

Even some who had come to deposit the notes to beat the phase out deadline could be seen leaving queues with their bundles of cash as soon as they learnt of the latest development.

But all was not well in business dealings since those coming with the notes from the banks failed to make transactions as businesspeople refused to accept the money saying they were awaiting official communication on the latest development from the central bank.

Some commuters could be seen milling around various ranks in Harare’s CBD after commuter omnibus operators refused to take the ‘returning’ notes.

“The whole business sector is in chaos, how could they give the money back to people before making the public announcement to have the cash back in circulation?

“How can the RBZ be so stupid? I got this money from the bank but no one is prepared to take it. Business people do not know what is happening,” complained Tariro Makhosa from Mbare.

Most people were rushing to beat the deadline and everyone believed that the $200 000 notes would be useless manure tomorrow as Gono had announced last week.

Sources close to the latest development said the announced phasing out of the notes was just a hoax and a desperate attempt by Gono to have the missing $67 trillion back to the banks.

But some cash barons who are linked to Gono had told their illegal traders to keep the notes as they knew about the hoax hence much of the cash had not been returned to the banks as expected

However, there was chaos among the general public for the past few days as people used every means possible to dispatch the $200 000 notes.

Some were forced spend the money they had been saving for various purposes.

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