Story by Stanley James, Business Editor
UPGRADED Zimbabwe Gold (ZiG) notes begin circulating this Tuesday, marking a key milestone in the country’s currency reform programme. The Reserve Bank of Zimbabwe (RBZ) will release the new notes in phases, starting with ZiG10, ZiG20, and ZiG50 denominations, with higher denominations of ZiG100 and ZiG200 expected to follow.
The rollout comes as foreign currency reserves backing the unit rise to US$1.3 billion, strengthening confidence in the domestic currency. Authorities say the upgraded notes feature improved durability, enhanced security features, and high-quality designs aligned with international standards. Existing ZiG notes will continue circulating alongside the new series until they are gradually phased out.
Members of the public expressed anticipation ahead of the rollout, noting that smaller denominations will improve access to change and ease day-to-day transactions. Others urged Zimbabweans to embrace the domestic currency, highlighting that neighbouring countries rely on their own units to drive economic activity.
Economist Dr Zachary Tambudzai commended the RBZ’s approach, particularly its public awareness campaigns and commitment to prudent monetary policy.
“I commend the RBZ for spearheading educational campaigns ahead of the currency rollout. Their commitment to a tight monetary policy stance is crucial for stable prices and a strong domestic currency, which are essential for supporting industry and commerce. Tuesday will be an important milestone in Zimbabwe’s currency reform agenda, marking a step forward in safeguarding the domestic currency,” he said.
The rollout comes at a time when Zimbabwe has recorded key economic gains, including single-digit inflation in local currency terms, a relatively stable exchange rate, and a narrowing gap between official and parallel market rates.
