I FOUND the new set of bearer cheques introduced by Reserve Bank governor Gideon Gono confusing.
One cent is equivalent to the old $10 which was useless and could not buy anything. The same goes for the new five cents (old $50)
and 10 cents (old $100).
The highest note is also $100 000, equivalent to the old $100 million. It means the majority of us will have to withdraw up to three months’ salary in just one note.
I have a feeling Gono did not consult properly before introducing the new set of cheques. And what happens if someone has a mixture of the old and the new notes. It means for example, $100+$10 000 could be equal to $10 100, or $110 000 or $10 000 100 or anything in between, depending on which notes are being used. So much for our learned governor!