RBZ To Launch Higher ZiG Denominations By Q3 2025

The Reserve Bank of Zimbabwe (RBZ) plans to introduce higher denominations of the Zimbabwe Gold (ZiG) currency by the third quarter of this year.

This was said by RBZ Governor John Mushayavanhu when he presented the bank’s 2025 Monetary Policy Statement on Thursday. He said (via NewsDay):

I might as well tell you we are going to be introducing higher denomination ZiG notes so that we ensure that, you know, the ZiG note that you can get can buy something meaningful. Because right now, the highest denomination is ZiG20, and the best it buys you is half a loaf of bread.

So, we need to make sure that we introduce a higher denomination no later than the third quarter of this year.

Mushayavanhu acknowledged that they needed to do some work to make sure that the ZiG spread to those areas.

He denied claims that people in rural areas have rejected the ZiG and instead demand payment for their gods in foreign currencies such as USD or Rand depending on which part of the country they live. Said Mushayavanhu:

It is not that they do not want it, but it is because it has not reached them. You know, for you to get ZiG, you have to be involved in some economic activity.

Large swathes of the market have already rejected ZiG notes due to its increased volatility, with formal sector businesses coming up with new ways to prevent its acceptance.

Last month, the local currency’s volatility emerged when the ZiG month-on-month inflation rate gained 6,8 percentage points to 10,5%, from December 2024.