International News

Reserve Bank of Zimbabwe increases limit on mobile banking transactions

1 Mins read

Staff reporter

The Reserve Bank has increased the limit on mobile banking transactions as authorities move to promote the use of Zimbabwean dollars. In his Monetary Policy statement Reserve Bank Governor Dr John Mangudya said person to business transaction have been increased from ZW$20 000 to ZW$25 000 per transaction with a maximum limit of ZW$100 000 per week while person to person has been increased from ZW$5 000 to ZW$10 000 per transaction with a limit of ZW$70 000 per week. Cash withdrawal limit for the banking public has also been increased from ZW$2000 to ZW$5000 per week.

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