BREAKING: Zimbabwe Introduces New Currency ZiG: Notes in 1, 2, 5, 10, 50, and 100 Denominations, Plus Half & Quarter ZiG Coins
BREAKING: Zimbabwe Introduces New Currency ZiG: Notes in 1, 2, 5, 10, 50, and 100 Denominations, Plus Half & Quarter ZiG Coins – Zimbabwe’s latest currency, called ZiG, was announced by Governor John Mushayavanhu in his Monetary Policy Statement. The currency includes notes in denominations of 1, 2, 5, 10, 50, and 100 ZiG, along with coins for half and a quarter ZiG.
The term ZiG stands for Zimbabwe Gold.
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Governor Mushayavanhu: “With effect from today, banks shall convert the current Zimbabwe dollar balances to ZiG. Zimbabweans have 21 days to exchange ZWL notes for ZiG.
“I don’t believe in taking people’s money. The ZiG will circulate with other currencies in the basket.”
RBZ Governor John Mushayavanhu commented on the old currency as follows:
“Those with Zimbabwe dollar notes should deposit them in banks starting Monday, but those with ZWL100,000 worth of notes have to explain the source and why they were keeping it.”
According to reports, new currency’s exchange rate will be market-driven, starting at 13.5616 against the United States dollar.
The currency is now accessible for trading.
-Afrogazette-
