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New ZiG banknote series circulation to start April 7
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The Reserve Bank of Zimbabwe (RBZ) will introduce a new series of ZiG banknotes on April 7, 2026, Governor Dr John Mushayavanhu has announced.
Presenting the 2026 Monetary Policy Statement, Dr Mushayavanhu said the new notes will circulate alongside existing ZiG notes, while worn-out notes will be gradually withdrawn from circulation. A statutory instrument formalising the roll-out is expected to be published before the end of the day.
"We have the ZiG10 and ZiG20 notes in the system. We're going to introduce new notes—they will circulate side by side," he said.
The Governor explained that older notes returned to banks will be surrendered to the central bank for destruction and replaced with new notes of equivalent value. "When that money comes to the banking system, banks are expected to take the old notes and bring them to the central bank. We will destroy the old notes and give them value in new notes," he said.
The new series will expand the range of denominations available. Initially, ZiG10, ZiG20 and ZiG50 notes will be issued, with ZiG100 and ZiG200 notes to be introduced at a later stage when the central bank deems it appropriate.
Dr Mushayavanhu stressed that the issuance of new banknotes will not be inflationary, as it will be strictly demand-driven. Banks will exchange electronic balances held at the central bank for physical cash, meaning there will be no net increase in reserve money.
The RBZ will also roll out a nationwide public education campaign ahead of April 7 to familiarise citizens with the security features of the new notes. Central bank officials have previously indicated that the redesigned currency will be more durable, modern, and equipped with enhanced security features aimed at strengthening confidence in the ZiG.
The introduction of the new banknotes forms part of the RBZ's broader strategy to entrench macroeconomic stability and support a future transition to a mono-currency system once the necessary economic conditions have been met.
Presenting the 2026 Monetary Policy Statement, Dr Mushayavanhu said the new notes will circulate alongside existing ZiG notes, while worn-out notes will be gradually withdrawn from circulation. A statutory instrument formalising the roll-out is expected to be published before the end of the day.
"We have the ZiG10 and ZiG20 notes in the system. We're going to introduce new notes—they will circulate side by side," he said.
The Governor explained that older notes returned to banks will be surrendered to the central bank for destruction and replaced with new notes of equivalent value. "When that money comes to the banking system, banks are expected to take the old notes and bring them to the central bank. We will destroy the old notes and give them value in new notes," he said.
The new series will expand the range of denominations available. Initially, ZiG10, ZiG20 and ZiG50 notes will be issued, with ZiG100 and ZiG200 notes to be introduced at a later stage when the central bank deems it appropriate.
Dr Mushayavanhu stressed that the issuance of new banknotes will not be inflationary, as it will be strictly demand-driven. Banks will exchange electronic balances held at the central bank for physical cash, meaning there will be no net increase in reserve money.
The RBZ will also roll out a nationwide public education campaign ahead of April 7 to familiarise citizens with the security features of the new notes. Central bank officials have previously indicated that the redesigned currency will be more durable, modern, and equipped with enhanced security features aimed at strengthening confidence in the ZiG.
The introduction of the new banknotes forms part of the RBZ's broader strategy to entrench macroeconomic stability and support a future transition to a mono-currency system once the necessary economic conditions have been met.
Source - the herald
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