The Reserve Bank of Zimbabwe has begun introducing a new series of ZiG banknotes, as authorities seek to strengthen confidence in the country’s currency.
In a statement, governor John Mushayavanhu said the upgraded “BiG5” ZiG notes would start circulating today following earlier policy guidance and legal provisions.
The move comes after a month-long nationwide awareness campaign in March aimed at preparing the public for the transition and explaining how the new notes would be introduced.
Mushayavanhu said the central bank working with commercial banks had put in place logistics to ensure a “seamless rollout” with banknotes already distributed across the country to meet expected demand.
The new series will be introduced gradually starting with ZiG10 and ZiG20 notes as well as a newly issued ZiG50 denomination. Higher-value ZiG100 and ZiG200 notes will follow later depending on demand and broader economic conditions.
He said the phased approach is intended to maintain stability in the financial system while ensuring adequate cash supply.
Existing ZiG coins in denominations of ZiG1, ZiG2 and ZiG5 will remain in circulation to support smaller transactions and ease pressure on low-value notes.
The central bank also confirmed that older ZiG banknotes will continue to be used alongside the new series for the foreseeable future before being gradually withdrawn once they are deposited into the banking system.
The new notes will be accessible through banks, automated teller machines and HomeLink kiosks.
Retailers and service providers have been encouraged to offer cash-back facilities while mobile money operators are expected to resume cash-in and cash-out services in ZiG.
Under the current framework, individuals will be allowed to withdraw up to ZiG10 000 per week while businesses can access up to ZiG100 000.
Mushayavanhu said the Reserve Bank remained committed to prudent monetary policy to support price and exchange rate stability.
He urged the public to adopt the new currency series “with pride and confidence”, adding that sufficient banknotes would be available to meet demand.
