Zimbabwe has moved closer to adopting the Zimbabwe Gold (ZiG) as its sole currency.
However, the Reserve Bank of Zimbabwe (RBZ) has ruled out setting a specific transition date.
Instead, the central bank says economic conditions will determine when the change happens.
The RBZ reported further progress during the third quarter of 2026.
Its conditions-precedent score increased from 50.1 percent in August to 54.9 percent in September.
The score measures Zimbabwe’s progress towards meeting requirements for a mono-currency system.
So far, the country has fulfilled six of the eight conditions identified by the central bank.
The latest figures appear in the RBZ’s monetary and financial developments report for the third quarter.
Zimbabwe strengthens its currency position
According to the RBZ, stronger reserves helped drive the latest improvement.
Foreign currency reserves reached US$1.9 billion by the end of September.
That increase gives Zimbabwe greater capacity to support currency stability.
Meanwhile, the ZiG remained relatively stable against the US dollar during the quarter.
The currency traded between ZiG25 and ZiG27 against the US dollar.
At the same time, the gap between official and parallel-market rates continued narrowing.
The parallel-market premium fell below 15 percent during the period.
However, inflation moved higher despite the improvements in currency stability.
Annual inflation reached 3.7 percent in September.
That figure compared with 2.9 percent recorded in August.
Therefore, the RBZ still faces economic challenges before introducing a mono-currency system.
RBZ says no fixed date has been set
RBZ Governor John Mushayavanhu stressed that the 54.9 percent score does not indicate an immediate currency switch.
Instead, he described the figure as an objective measure of progress.
“The overall weighted score of 54.9 per cent was determined by a weighted average of progress on each of the CPs, with the weights reflecting the overall importance of each CP supporting the transition to mono-currency,” he said.
Mushayavanhu also explained that economic conditions will determine the timing.
The governor said the process will remain conditions-based rather than tied to a specific deadline.
“The barometer seeks to provide an objective and indicative measure of the status of achievement of the CPs and does not signal an immediate transition to mono-currency, which remains a market-driven process,” he said.
Consequently, Zimbabwe’s multi-currency system remains in place for now.
The latest figures nevertheless show continued progress towards greater reliance on the ZiG.
The RBZ will therefore continue monitoring the remaining conditions before any major currency change.
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