Zimbos online are seemingly accepting the new Zimbabwe Gold (ZiG) bank notes and coins which have entered into circulation today.
The New Currency
The Reserve Bank of Zimbabwe (RBZ) introduced the new currency on 5 April, and organisations and companies had already started offering goods and services in the electronic ZiG.
The notes and coins are backed by a US$285 million gold and US dollar reserve facility. The old Zimbabwean dollar (ZWL) notes ceased circulating on 25 April 2024 to make way for the new currency.
Initially, the market was sceptical of the currency, which had a knockoff effect on the black market rate. The ZiG was initially pegged at 13.51, but it hit ZiG18 on the parallel market.
Zig Notes Enter Circulation After Weeks Of Uncertainty And Improvisation
When the RBZ Governor introduced the ZiG, some expressed scepticism. The central bank even suspended the bank accounts of some companies refusing to trade in the new currency.
ALSO READ: RBZ Freezes Bank Accounts Of Companies Refusing To Take The ZiG Currency
Since the public was also refusing to trade in ZWL after the new currency announcement, there was a shortage of 50c change in shops and kombis. On a route charging US$0.50, two passengers paid US$1, and the other person would buy two bottles of juice worth US$1. Other commuter operators offered juice in place of the US$0.50 change.
After almost three weeks of anticipation, the ZiG notes are now circulating.
Some members of the public and pensioners have been withdrawing ZiG notes at banks. They are keeping some and diverting some for shopping.
What People Are Saying As The ZiG Notes Enter Circulation
Check out what people said online after ZiG started circulating.
Kimkay?
“Let’s be positive as a nation.”
Tebogo:
“Yooooooooo better tatanzwa nekupihwa zvima juice zvinenge MA jolly juice mumacomby apa zvairarisa.”
Charles:
“Let’s love our money, and let’s welcome it. ndozviripo KuZambia kwacha rakamboita marara but now rane power.”
Tinashe:
“Let’s be positive, guys. At least taakudzoswera change mumakombi umu.”
Brighton:
“Kana iri iyo ndiyo chaiyo, chaunga chinongosimbisa iyo chaiyo. Zvenyu zvekuipesvedzera ratove drama. Ngaiuye yega tione kwete marination yamurikuita iyi.”
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The post “Tatanzwa Nema Juice”: ZiG Notes Enter Circulation appeared first on iHarare News.
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