Zimbabwe introduces a new currency

The Reserve Bank of Zimbabwe (RBZ) has introduced a new gold-based currency, the ZiG (Zimbabwe Gold), which replaces the the Zimbabwean Dollar (ZW$) as Zimbabwe's legal tender.

It's the country's sixth attempt at creating a new currency since 2008. The ZiG is backed by foreign currencies, gold and precious minerals.

The new ZiG banknotes come in eight denominations: 1, 2, 5, 10, 20, 50, 100 and 200 ZiG. The coins will come in two forms, Half ZiG and Quarter ZiG.

The new ZiG banknotes and coins will begin circulating on 30 April 2024. The new ZiG currency will be operating alongside other currencies under a multi-currency system, which includes the (dominant) USD as well as Euro, Rand, Pound Sterling, Yen, etc..

Source: TravelComments.com Official Blog