Source: New ZiG banknotes enter circulation today – herald
Freeman Razemba-Senior Reporter
PEOPLE will today be lining outside major banks countrywide to lay their hands on the new series of ZiG notes featuring the iconic Zimbabwe bird emblem security mark and wildlife — a historic moment that signals a shift in monetary sovereignty.
The notes, which will be released today, come in 10, 20 and 50 ZiG. Higher denominations — ZiG100 and ZiG200 will be gradually introduced to meet changing demand.
The central bank said sufficient quantities of the ZiG notes have already been distributed countrywide to meet anticipated cash demand.
Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mushayavanhu said the money had been distributed in keeping with the stipulated daily and weekly cash withdrawal limits.
The Reserve Bank believes the introduction of new notes will increase the use of local currency, which is one of the conditions of the Staff-Monitored Programme (SMP) agreed by Government and the International Monetary Fund (IMF) in February.
Commercial banks will begin disbursing the new Zimbabwe Gold notes for public use from today.
The new ZiG notes will be issued into the market in phases, with ZiG10, ZiG20 and ZiG50 set to become available at automated teller machines (ATMs) and banking halls this week.
Cash withdrawal limits are set at ZiG10 000 for individuals and ZiG100 000 for corporates per week.
According to the RBZ, as of March 31, the ZiG currency is backed by US$1,3 billion in foreign currency reserves, representing nearly twice the total value of ZiG deposits in the banking system.
The introduction of the new ZiG notes marks a significant milestone, as they feature an appealing design, enhanced durability and security features that meet international standards.
The notes also form part of the broader de-dollarisation roadmap, which seeks to reintroduce a mono-currency system.
In a statement, Dr Mushayavanhu said the central bank was “pleased to advise the public that the upgraded BiG5 ZIG banknotes will commence circulation in the economy” from tomorrow (today).
This is consistent with the announcement made in the February 2026 Monetary Policy Statement and in line with Statutory Instrument (SI) 37 of 2026.
“The issuance and circulation of the new series of ZiG banknotes was preceded by a successful nationwide ZiG educational and awareness campaign undertaken by the Reserve Bank from March 1 to 31, 2026, wherein the issuance and rollout plan was also comprehensively articulated by Reserve Bank staff,” said Dr Mushayavanhu.
“The Reserve Bank and banking institutions have put in place all the necessary logistics and operational modalities for the seamless rollout of the upgraded BiG5 ZiG Banknotes.
“Accordingly, the family of new BiG5ZiG banknote series have since been distributed throughout the whole country in sufficient quantities to meet anticipated cash demand, consistent with the stipulated daily and weekly cash withdrawal limits.”
The upgraded ZiG banknotes series will be availed in a phased and orderly manner, starting tomorrow with the ZiG10, ZiG20 and ZiG 50 denominations.
Higher denominations – the ZiG100 and ZiG200 – would be gradually introduced guided by transactional demand and monetary and financial conditions in the domestic economy.
This gradual transition is seen as critical in maintaining public confidence and preventing panic-driven economic behaviour.
Dr Mushayavanhu said the ZiG coins, introduced on April 5, 2024, have been re-issued in sufficient quantities, including the ZiG1, ZiG2 and ZiG5 denominations.
These will remain in circulation to support small-value transactions and reduce pressure on low-denomination notes.
Critically, the coins will be useful as small change, which consumers were being forced to forgo by retailers or asked to get highly priced products such as sweets and chocolates.
In some cases, retailers would peg their prices to the nearest whole number. For instance, something that could easily be sold for ZiG45, ended up being sold for ZiG50, supposedly to spare till operators from the burden of running around in search for ZiG5 change, a move that disadvantaged consumers.
Dr Mushayavanhu also advised the transacting public that the old ZiG banknote series will continue to co-circulate with the new “BiG5 ZiG” banknotes indefinitely.
He said the old ZiG banknotes will “naturally and automatically be phased out of circulation once they are deposited into the banking system”.
“The upgraded ZiG banknotes series will be available through normal banking platforms, including banking halls, Automatic Teller Machines (ATMs) and HomeLink Kiosks.
“The Reserve Bank has also encouraged merchants and retailers, such as supermarkets, pharmacies, hardware shops, among others, to offer ZiG cashback facilities to their customers on demand and Mobile Money Operators (MNOs) to resume cash-in and cash-out provisions in ZiG.
“Accordingly, the Reserve Bank assures the public of the availability and adequacy of ZiG banknotes to meet cash demand,” he said.
The RBZ reaffirms its strong commitment to “stay the course” with prudent monetary policy management, which is critical for sustained price, currency and exchange rate stability now and in the future.
In this context, the RBZ “strongly” encouraged the public to embrace and use the upgraded BiG5ZIG banknote series “with pride and confidence”.
With tight controls, phased implementation and clear policy direction, authorities maintain that the new ZiG notes mark not a return to instability, but a step forward in consolidating a stable and predictable monetary environment.
Economic analysts have said the timing of the new ZiG banknotes rollout was critical, as they come at a period when inflation has remained in single digits and monetary authorities have maintained tight liquidity management.
The ZiG has also benefited from growing foreign currency reserves and a convergence between the parallel and official exchange rates, reinforcing confidence in the domestic currency.
The post New ZiG banknotes enter circulation today appeared first on Zimbabwe Situation.