The Zimbabwe Gold (ZiG; code: ZWG) [3] is the official currency of Zimbabwe since 8 April 2024, [2] backed by US$629 million worth of hard assets: foreign currencies, gold, and other precious metals. [4][5][6][7] It replaced the Zimbabwean dollar, which suffered from rapid depreciation, with the official exchange rate surpassing 30,000 Zimbabwea...

Apr 5, 2024 · Zimbabwe has introduced a new gold-backed currency called ZiG - the name stands for "Zimbabwe Gold". It is the latest attempt to stabilise an economy that has lurched from crisis to crisis for...

Mar 18, 2025 · According to the RBZ, “ZIG is a digital currency backed by physical gold reserves, designed to provide an alternative store of value for citizens.” This currency was expected to stabilize the economy by offering a more reliable currency …

Zimbabwe on Tuesday started circulating a new currency to replace one that has been battered by depreciation and often outright rejection by the people. The ZiG was introduced electronically in early April, but people are now able to use banknotes and coins.

May 17, 2024 · Zimbabwe has introduced a new currency called the ZiG. Zimbabwe's central bank said the country is “recalibrating its monetary policy framework”. However, it remains to be seen whether the ZiG can gain the confidence of consumers.

Oct 24, 2024 · On September 27, the Reserve Bank of Zimbabwe (RBZ) slashed the value of the ZiG by 43 percent, taking it from 13.56 ZiG to the US dollar at its launch to 24.4 ZiG to the dollar. The currency...

6 days ago · Zimbabwe's local currency, the ZiG, is at risk of failure due to policy missteps and prolonged liquidity crunch. The currency, backed by gold and foreign currency reserves, has failed to gain public confidence. Authorities' efforts to encourage widespread adoption of the ZiG have largely been ineffective.

Apr 8, 2024 · The Reserve Bank of Zimbabwe (RBZ) in the 2024 Monetary Policy Statement introduced a new “structured currency” termed ZiG (Zimbabwe Gold) on April 5. A “structured currency” is a currency that is pegged to a specific exchange rate or currency basket and ZiG shall always be anchored and fully backed by a composite basket of foreign ...

May 2, 2024 · The notes and coins for Zimbabwe's sixth currency since independence in 1980, Zimbabwe Gold (ZiG), hit the streets this week as the government makes yet another attempt to tame inflation. The money has coins worth 1, 2, and 5 ZiG, and notes for denominations between ZiG10 and ZiG200.

Apr 6, 2025 · ZiG marks one year with growing stability. Yesterday, the ZiG celebrated its first anniversary since launch. The RBZ says the currency is stabilising, with local transactions now making up 35% of all settlements—up from just 15% last year. Prices of basic goods have remained unchanged since October 2024, thanks to government measures.