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RBZ urges calm ahead of new ZiG banknotes rollout
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The Reserve Bank of Zimbabwe (RBZ) has moved to allay public concerns ahead of the introduction of new ZiG banknotes, assuring citizens that there is no need to rush to exchange existing currency notes.
Speaking at a State of the Economy engagement in Bulawayo on Thursday, January 29, 2026, RBZ Deputy Governor Innocent Matshe said the central bank is adopting a cautious and orderly approach to the rollout to safeguard market stability and avoid unnecessary panic.
"The new ZiG notes will be in the market late this quarter or in the second quarter and will have strong, durable features," said Matshe.
"There is no need for people to rush to exchange the current notes with new ones. They will remain legal tender."
Matshe emphasised that the introduction of the new banknotes is not intended to expand the money supply, but to enhance the credibility, security and durability of the local currency. He said the improved features are designed to strengthen public confidence and ensure the notes are fit for everyday use.
According to the central bank, the move forms part of broader efforts to stabilise the economy, promote confidence in the ZiG, and create a more predictable environment for transactions and investment.
"The objective is to support confidence and stability, not to disrupt the market," Matshe said, adding that the transition will be carefully managed to ensure a smooth coexistence of old and new notes during the changeover period.
Despite the assurances, scepticism remains widespread among Zimbabweans, many of whom have lived through repeated currency reforms and episodes of hyperinflation that eroded savings and trust in previous local currencies.
The RBZ, however, insists that lessons have been learnt from past experiences and that the current reforms are anchored on fiscal discipline and controlled money supply growth, which it says are key to sustaining the value of the ZiG going forward.
Speaking at a State of the Economy engagement in Bulawayo on Thursday, January 29, 2026, RBZ Deputy Governor Innocent Matshe said the central bank is adopting a cautious and orderly approach to the rollout to safeguard market stability and avoid unnecessary panic.
"The new ZiG notes will be in the market late this quarter or in the second quarter and will have strong, durable features," said Matshe.
"There is no need for people to rush to exchange the current notes with new ones. They will remain legal tender."
Matshe emphasised that the introduction of the new banknotes is not intended to expand the money supply, but to enhance the credibility, security and durability of the local currency. He said the improved features are designed to strengthen public confidence and ensure the notes are fit for everyday use.
According to the central bank, the move forms part of broader efforts to stabilise the economy, promote confidence in the ZiG, and create a more predictable environment for transactions and investment.
"The objective is to support confidence and stability, not to disrupt the market," Matshe said, adding that the transition will be carefully managed to ensure a smooth coexistence of old and new notes during the changeover period.
Despite the assurances, scepticism remains widespread among Zimbabweans, many of whom have lived through repeated currency reforms and episodes of hyperinflation that eroded savings and trust in previous local currencies.
The RBZ, however, insists that lessons have been learnt from past experiences and that the current reforms are anchored on fiscal discipline and controlled money supply growth, which it says are key to sustaining the value of the ZiG going forward.
Source - pindula
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