The Sunday News
THE announcement by the Reserve Bank of Zimbabwe that it will introduce bond notes could be the best way to solve the liquidity problems the country has been facing but like any new product, there have been mixed reactions from both industry and individuals.
Experts say the bond notes will finally be accepted like the coins as long as there is an assurance that the notes will be backed by an equivalent or real money while others see this as a ploy to smuggle in the local currency which many from history do not have trust in. Nonetheless, the idea is a noble one from RBZ and should be supported.
Meanwhile, the Industrial index closed the week higher on Friday at 107.03 points after recording a 12th consecutive gain following a 0.49 points (0,46 percent) increase.
Beverage giant Delta led the movers after putting on $0,0072 to close at $0,7297, Simbisa added $0,0030 to trade at $0,1350 and OK Zimbabwe moved up $0,0011 to settle at $0,0431. Nicoz Diamond was $0,0010 firmer at $0,0160 as Barclays increased by $0,0005 to $0,0275.
Two counters lost ground; National Foods lost a further $0,0057 to trade at $2,0843 and Old Mutual dropped $0,0025 to settle at $2,1975. Week on week the industrial index added 1.24 points (1,17 percent).
The Mining index was unchanged at 20.00 points. Bindura, Falgold, Hwange and RioZim maintained previous price levels at $0,0100, $0,0050, $0,0300 and $0,1100 in that order. The Mining index lost 0.16 points (0,79 percent) compared to week ending 29 April 2016.
