R500 note and R10 coin in South Africa
The South African Reserve Bank discusses a new R500 note and R10 coin.
As the cost of living in South Africa continues to climb, the South African Reserve Bank may decide to issue banknotes with a larger denomination, such as R500, and coins with a denomination of R10. This alternative was recently discussed by Reserve Bank officials.
Why R500 notes and R10 coins introduced in South Africa?
The Reserve Bank of South Africa has said that it is always looking for new ways to deal with the rising cost of living and inflation in the country.
They have considered a number of different solutions, one of which being the introduction of larger denominations of currency, such as an R500 note and, even more shockingly, an R10 coin. This is one of the possibilities they are considering.
