New ZiG banknotes enter circulation today

People are expected to queue outside major banks across the country today as the Reserve Bank of Zimbabwe (RBZ) begins circulating a new series of Zimbabwe Gold (ZiG) banknotes, marking a major milestone in the country's monetary reforms.

The new notes, which come in ZiG10, ZiG20 and ZiG50 denominations, feature upgraded security features, the iconic Zimbabwe Bird emblem, and wildlife imagery. Higher denominations of ZiG100 and ZiG200 are expected to be introduced gradually based on demand.

The rollout forms part of the country's broader de-dollarisation strategy and efforts to strengthen confidence in the local currency.

RBZ Governor John Mushayavanhu said sufficient quantities of the new notes have been distributed nationwide through commercial banks and are aligned with existing withdrawal limits.

He said the introduction of the upgraded banknotes follows a nationwide public awareness campaign and is supported by full logistical preparations to ensure smooth circulation.

According to the central bank, the ZiG currency is backed by substantial foreign reserves and is intended to reinforce monetary stability as part of ongoing reforms agreed under international economic monitoring programmes.

The new notes will circulate alongside existing ZiG cash, which will only be withdrawn from circulation once deposited into the banking system.

Authorities have also urged retailers and service providers to facilitate cash availability through cashback systems, while mobile money operators are expected to support ZiG transactions more actively.

Economic analysts say the rollout comes at a time of relative currency stability, with inflation contained and exchange rate pressures showing signs of convergence, which could support broader confidence in the local monetary system.

The RBZ maintains that the phased introduction of the new notes is designed to ensure stability, prevent cash shortages, and strengthen public trust in the currency system.