Cash improves in banks

By Derick Tsimba

Most banking institutions have increased weekly maximum withdrawal following a reduction on the use of bond notes by the parallel market dealers.

Harare Post has learnt the development owes to Government’s intervention on the parallel market trade where traders are no longer trading their bond notes on the streets in fear of the long arm of the law.

A source interviewed by Harare Post on condition of anonymity revealed that the country’s banks cash availability was across all banks with most of the banks giving cash daily to clients.

“The cash situation in the banking institutions is starting to improve although banks continue to disperse bond coins, the supply of bond notes is increasing due to its low demand on the parallel market,” said the source.

A survey by Harare Post at some bank institutions revealed that Steward Bank, CABS, CBZ, Eco Bank amongst other banks were dispersing close to $300 to their clients per week.

Although the country’s banking institutions continue to be affected by parallel market dealers, the situation has significantly improved due the success on the clamp down on foreign currency dealers under “Operation Dzoserai Mari.”