Zimbabwe Upgraded ZiG Banknotes Enter Circulation in Phased Rollout
Zimbabwe today begins circulating upgraded Zimbabwe Gold (ZiG) banknotes as authorities push ahead with reforms to stabilise the local currency.
The Reserve Bank of Zimbabwe (RBZ) confirmed the rollout, which starts with lower denominations and will be expanded gradually in line with demand and economic conditions.
Also Read: New ZiG Banknotes to Enter Circulation Next Week
Phased Rollout of New Denominations
According to the central bank, the initial release includes ZiG10, ZiG20, and ZiG50 notes, while higher denominations of ZiG100 and ZiG200 will be introduced in due course.
Authorities say the phased approach is designed to ensure a smooth transition and avoid disruptions in the cash market. The upgraded notes will be available through banks, automated teller machines (ATMs), and HomeLink kiosks.
Improved Features and Stronger Backing
The RBZ highlighted that the new banknotes come with enhanced durability, advanced security features, and improved designs that meet international standards.
The rollout is also being supported by growing foreign currency reserves, which now stand at approximately US$1.3 billion. Officials say this increased backing strengthens the credibility of the ZiG and underpins its value in the economy.
Old and New Notes to Co-Circulate
Existing ZiG banknotes will continue to circulate alongside the upgraded series and will only be phased out gradually as they are deposited into the banking system.
The RBZ stressed that ZiG coins—introduced in April 2024—remain in circulation and will continue to play a key role in facilitating smaller transactions and easing demand for low-denomination notes.
Cash Access and Withdrawal Limits
To support the transition, the central bank assured the public that sufficient quantities of the new notes have been distributed nationwide.
Individuals will be able to withdraw up to ZiG10,000 per week, while corporate entities can access up to ZiG100,000 weekly, in line with existing cash management measures.
Call for Public Confidence
In its statement, the central bank said it had completed a nationwide awareness campaign in March to prepare citizens for the rollout and educate them on the new currency features.
The RBZ urged the public to adopt and use the upgraded ZiG banknotes with confidence, reiterating its commitment to maintaining prudent monetary policies aimed at ensuring long-term price and exchange rate stability.
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