May 20, 2024

No R500 notes and R10 coins for SA | SARB

R500 bank note

The news of South Africa in talks of getting R500 bank notes and R10 coins is scraped off. The South African Reserve Bank has requested that the public take caution of a fake post that it will be introducing a new currency note into circulation.

A week ago, the country came to a shock through news of this note being implemented, the public seemed to not be happy with it. The SARB has eliminated the rumours, saying it will not be getting a new R500 bank note despite inflationary pressure and higher consumer price inflation.

The country is currently experiencing a turn, with the economy suppressing the poor. Petrol and food prices have hiked, leaving the poor in worry to get by. Sassa has promised to start the SRD R350 payments mid-June which is this week.