By Business Reporter-The Reserve Bank of Zimbabwe (RBZ) has unveiled a new series of Zimbabwe Gold (ZiG) banknotes, set to enter circulation on 7 April 2026, as part of efforts to strengthen confidence in the country’s latest currency framework.
The new notes will circulate alongside the existing ZiG series introduced in April 2024.
Presenting the 2026 Monetary Policy Statement on 27 February, RBZ Governor John Mushayavanhu stressed that the rollout does not signal the introduction of a new currency, but rather an upgrade of the current Zimbabwe Gold notes with enhanced design elements and improved security features.
“These banknotes will co-circulate with the existing notes in the system. We currently have ZiG 10 and ZiG 20 in circulation. The new series will circulate side by side with the old notes,” Mushayavanhu said.
He added that banks are required to continue accepting the old notes, which will be gradually withdrawn and destroyed once returned through the banking system.
“When you are in a shop and someone brings a new note, it is acceptable. If someone brings the old one, it is also acceptable.
“However, when the old notes return to the banking system, banks are expected to surrender them to the central bank for destruction and replacement with new notes,” he said.
According to the RBZ, smaller denominations — ZiG 10, ZiG 20 and ZiG 50 — will be released on 7 April, while higher denominations, ZiG 100 and ZiG 200, will follow at a later stage.
The central bank also announced plans for an extensive public awareness campaign to familiarise citizens with the upgraded security features ahead of the rollout.
Zimbabwe’s latest currency reforms come against the backdrop of more than two decades of monetary instability.
The country effectively lost its original Zimbabwe dollar during the hyperinflation crisis that peaked in 2008, when inflation spiralled into billions percent and rendered the local currency virtually worthless. In early 2009, authorities formally adopted a multi-currency system dominated by the United States dollar and the South African rand, bringing a measure of stability but limiting monetary policy autonomy.
Although Zimbabwe technically reintroduced a local currency in 2019 — first through RTGS balances and bond notes, later rebranded as the Zimbabwe dollar — persistent inflation, exchange rate volatility and lack of public trust undermined its stability. The local unit rapidly depreciated, driving widespread re-dollarisation of the economy.
In April 2024, the RBZ introduced the Zimbabwe Gold (ZiG), a structured currency backed by gold and foreign currency reserves, in an attempt to anchor value and restore confidence. The ZiG replaced the Zimbabwe dollar as part of broader reforms aimed at tightening monetary policy and curbing speculative pressures.
The unveiling of the upgraded ZiG notes in 2026 forms part of the central bank’s ongoing efforts to stabilise the monetary system and rebuild trust in a country that has not enjoyed sustained currency stability since the early 2000s.
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