Travellers to Zimbabwe are being urged to carry small denomination notes, as they will receive change in bond notes which cannot be used outside Zimbabwe or converted back into hard currency.
SA-based travel management company, Corporate Traveller, issued the above advisory following Zimbabwe’s introduction of the bond note in response to a shortage of hard currency in the country.
Travellers who pay for activities, meals in restaurants or items in curio shops in dollars, euros or pounds may not be issued with change in cash, but given bond notes which can only be used in Zimbabwe.
The Reserve Bank of Zimbabwe introduced bond notes on the 28th of November 2016, to mitigate foreign exchange malpractices, such as hoarding of US dollars. It was reported that within five days of $17 million worth of bond notes being released, banks ran out. The Zimbabwean government issued a further $12 million bond notes in mid-December.
Corporate Traveller is also advising travellers to take meals in the hotel they are staying at where possible, and to pre-book extras such as transfers and car rental before travelling.