By Rungano Dzikira

The transacting public have welcomed the move by the Reserve Bank of Zimbabwe (RBZ) of injecting a new set of notes and coins to cushion the public from the obtaining unscrupulous cash arbitrage.

Customers’ queuing for cash in Harare’s Central Business District (CBD) banks expressed optimism that this move would ease the cash crisis which characterised the country over the months as they had managed to withdraw cash from their respective banks after so long.

“I managed to withdraw cash over the counter (from the bank teller) for the first time in so many months, I have no idea how long it’s been,” said one CABS client.

“RBZ should, however, add more notes than coins because it seems we are only getting coins, hopefully it will improve with time.”

Many expressed optimism that this would eventually lead to the death of cash barons and or profiteering ecocash agents who were in the habit of charging as much as 50% premiums for one to access cash.

“This move, if successful, is also likely to see the death of the three-tier pricing system since everyone will have access to cash so eventually its demand will fall,” said one CBZ client at Kwame Nkuruma.

According to the central bank, account holders will be able to withdraw a maximum of $300 weekly cash, though the amounts are set to be reviewed in due course as the cash situation improves.

Commercial banks were reported to have started collecting $30 million new notes and coins from the RBZ since yesterday.