Zimbabwe will begin circulating upgraded Zimbabwe Gold (ZiG) notes this Tuesday, marking a key milestone in the country’s currency reform programme.

The Reserve Bank of Zimbabwe (RBZ) will release the new notes in phases, starting with ZiG10, ZiG20, and ZiG50 denominations, while higher denominations of ZiG100 and ZiG200 will follow later.

Stronger reserves boost confidence

The rollout comes as foreign currency reserves backing the unit rise to US$1.3 billion, boosting confidence in the domestic currency.

Authorities say the upgraded notes offer improved durability, enhanced security features, and high-quality designs that meet international standards.

Existing ZiG notes will continue to circulate alongside the new series until authorities gradually phase them out.

Public welcomes smaller ZiG denominations

Members of the public have expressed anticipation ahead of the rollout, saying smaller denominations will improve access to change and make day-to-day transactions easier.

Others have urged Zimbabweans to embrace the local currency, noting that neighbouring countries rely on their own currencies to drive economic activity.

Economist backs ZiG rollout

As reported by ZBC News, Economist Zachary Tambudzai praised the RBZ’s strategy, particularly its public awareness campaigns and commitment to tight monetary policy.

“I commend the RBZ for spearheading educational campaigns ahead of the currency rollout. Their commitment to a tight monetary policy stance is crucial for stable prices and a strong domestic currency, which are essential for supporting industry and commerce. Tuesday will be an important milestone in Zimbabwe’s currency reform agenda, marking a step forward in safeguarding the domestic currency,” he said.

ZiG reform supported by economic gains

The rollout also comes as Zimbabwe records key economic gains, including single-digit inflation in local currency terms, a relatively stable exchange rate, and a narrowing gap between official and parallel market rates.