Chaos at banks as Zimbabwe extends currency deadline

0 Comments | AFP, December, 2007

HARARE (AFP) — Zimbabwe's central bank chief indefinitely extended a deadline Monday to exchange 200,000-dollar bills just hours before they were to cease being legal tender after scenes of chaos at banks across the country.

In a press conference, Reserve Bank of Zimbabwe Governor Gideon Gono declined to set a fresh date for withdrawing the notes and blamed recent heavy rains for hampering efforts to stock up banks with new higher denomination bills.

"The legal status of the 200,000 dollar bearer cheque notes is now reinstated and extended to a future date which will be announced when it is deemed strategic to do so," Gono told reporters.

"All economic players are therefore advised and required to continue fully accepting the 200,000 bearer cheque note as it...