In mid-May the central bank promised to inject $10 and $20 notes into economy in a bid to address biting cash shortages.
In the statement, the RBZ stated that the $10 note will be released the following week, a promise which it fulfilled. It went on to say that the $20 note was going to be released in the first week of June. But the first week of June ended yesterday and there’s no news or sights of the $20 note.
Is the RBZ in fear of further depreciation of Zim dollar?
One can be tolerated in coming up with a theory which states the RBZ didn’t release the $20 note as it feared that the Zimbabwe dollar’s value could further depreciate like it did when it released the $10 note in May.
Now black market exchange rate hovering around 78, a cash injection of $29 notes will likely push the rate up again if past behaviour is good predictor of the future (history repeats itself). And this could be the reason why RBZ delayed releasing the $20 notes last week.
Or maybe not
But lets not overthink it, owing to the Covid-19 pandemic, maybe its just a logistical or production bottleneck that has delayed the RBZ to release the $20 note last week.