Harare, (New Ziana) – The Reserve Bank of Zimbabwe (RBZ) says it has supplied adequate currency to commercial banks to meet demand for the distribution of the new Zimbabwe Gold (ZiG) banknotes, which are now available at Automated Teller Machines (ATMs) and banking halls.
Featuring enhanced quality, stronger security elements, and improved durability, the ZiG10, ZiG20, and ZiG50 notes draw inspiration from Zimbabwe’s national heritage, iconic landmarks, and wildlife, reflecting the country’s identity and pride.
The introduction of the new notes is also expected to strengthen price and exchange rate stability through disciplined monetary targeting and the use of market-based instruments, as part of broader efforts to achieve sustainable economic growth.
Last month, the Treasury conducted nationwide financial literacy campaigns aimed at equipping businesses and the public with knowledge to make informed decisions on transactions, savings, and investments ahead of the rollout of the new currency.
Authorities believe that, over time, the exclusive use of Zimbabwe’s domestic currency will enhance economic growth potential, improve resilience, and contribute to broader objectives of consolidating stability, restoring confidence, boosting competitiveness, and supporting sustainable development across all sectors.
Cash withdrawal limits have been set at ZiG10 000 per week for individuals, while corporate entities are permitted to withdraw up to ZiG100 000 weekly.
As of March 31, the ZiG currency was backed by US$1.3 billion in foreign currency reserves, nearly double the total value of ZiG deposits held within the banking system.
In an interview with New Ziana, RBZ Governor John Mushayavanhu said the new banknotes are available to cater for the demand for cash in the economy.
“We are introducing the new banknotes on Tuesday and they will be available through banks. All banks have collected their share based on anticipated demand. There are guidelines for economic agents to access and withdraw their ZiG cash requirements from banks and that should be consistent with the revised ZiG cash withdrawal limits per week,” he said.
Old ZiG10 and ZiG20 banknotes will be gradually withdrawn from circulation once they are deposited into the banking system.
One of the conditions of the Staff-Monitored Programme (SMP) agreed between the Government and the International Monetary Fund (IMF) in February is for Zimbabwe to increase the use of its local currency.
