Central Banking

Travellers cheques to ease Zimbabwe cash crisis

The Reserve Bank of Zimbabwe will launch a range of travellers cheques on Friday. The move comes amid Zimbabwe's acute cash shortage. Similar to bank notes, the travellers' cheques are printed on security paper with fibres visible under ultraviolet light, the Reserve Bank said Thursday.

Source: Sapa-AP

The government made the unprecedented move of unveiling a range of new travellers' cheques in huge denominations on Thursday, which it said would ease acute shortages of local currency in Zimbabw