--- description: ATMs are running out of cash, and long lines are forming outside banks, as Zimbabweans face an acute cash shortage. title: Zimbabwe's Cash Supply Dwindles Amid Economic Crisis image: https://static.time.com/v3/assets/bltea6093859af6183b/blt74c24c53a6729190/698891fbcf40a8c5e6c431ff/gettyimages-149290113.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 ---  * [World](/section/world/) ## World Update your preferences in [Account Settings](/account/preferences/) Close * [Zimbabwe](/tag/zimbabwe/) ## Zimbabwe Update your preferences in [Account Settings](/account/preferences/) Close # Zimbabwe's Cash Supply Is Dwindling Amid an Economic Crisis by [Mark Rivett-Carnac](/author/mark-rivett-carnac/) ## Mark Rivett-Carnac Update your preferences in [Account Settings](/account/preferences/) Close May 5, 2016 9:33 AM CUT  A coin vendor counts his coins on June 27, 2012 in Harare A coin vendor counts his coins on June 27, 2012 in HarareJekesai Njikizana—AFP/Getty Images by [Mark Rivett-Carnac](/author/mark-rivett-carnac/) ## Mark Rivett-Carnac Update your preferences in [Account Settings](/account/preferences/) Close May 5, 2016 9:33 AM CUT ATMs are running out of cash, and long lines are forming outside banks, as Zimbabweans face a [cash shortage](http://www.bloomberg.com/news/articles/2016-05-04/dollar-shortage-leaves-atms-empty-as-zimbabweans-go-without-cash "undefined") amid an ongoing economic crisis. To stem the outflow, the Reserve Bank of Zimbabwe will limit daily withdrawals to $1,000, 1,000 euros ($1,140) or 20,000 South African rand ($1,340), according to a [statement](http://www.rbz.co.zw/assets/press-statement-on-cash-shortages-challenge---04-may-2016.pdf "undefined") from the bank on Wednesday. It also announced that 40% of dollar receipts from exports will be converted into the South African rand and 10% into the euro. The bank also suggested the public use debit and credit cards or mobile phone systems for payments. The African nation introduced foreign currencies as legal tender in 2009, Bloomberg reports, after hyperinflation left its own currency near valueless. Government-led seizures of farmland, starting in 2000, decimated exports and sent the country into crippling recession. \[[_Bloomberg_](http://www.bloomberg.com/news/articles/2016-05-04/dollar-shortage-leaves-atms-empty-as-zimbabweans-go-without-cash "undefined")\] ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/4319079/zimbabwe-cash-shortage-dollar-bank-economy/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/4319079/zimbabwe-cash-shortage-dollar-bank-economy/"},"headline":"Zimbabwe's Cash Supply Is Dwindling Amid an Economic Crisis","datePublished":"2016-05-05T09:33:08.000Z","dateModified":"2026-02-22T17:17:31.691Z","description":"Banks have capped daily withdrawals","url":"https://time.com/4319079/zimbabwe-cash-shortage-dollar-bank-economy/","keywords":["Zimbabwe","Economy","shortage","Dollar","bank","cash"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt74c24c53a6729190/698891fbcf40a8c5e6c431ff/gettyimages-149290113.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Mark Rivett-Carnac","jobTitle":null,"url":"https://time.com/author/mark-rivett-carnac/"}],"articleSection":"World","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt74c24c53a6729190/698891fbcf40a8c5e6c431ff/gettyimages-149290113.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"A coin vendor counts his coins on June 2","caption":"A coin vendor counts his coins on June 2","creditText":"Jekesai Njikizana—AFP/Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/world/","name":"World"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/zimbabwe/","name":"Zimbabwe"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/4319079/zimbabwe-cash-shortage-dollar-bank-economy/","name":"Zimbabwe's Cash Supply Is Dwindling Amid an Economic Crisis"}}]}] ```