ZiG Currency

Current Context : Reserve Bank of Zimbabwe (RBZ) has launched a new gold-backed currency called the ZiG.

• It will replace the Zimbabwean dollar.
• Objective : to provide stability and restore confidence in the country’s financial system after years of crippling hyperinflation and exchange rate volatility.
• To promote simplicity, certainty, and predictability in monetary and financial matters.

ABOUT ZIG :

• The ZiG stands out as a new currency backed by gold reserves, ensuring its value is supported by the physical gold held by the government.
• ZiG notes and coins will be available and issued in denominations: 1ZiG, 2ZiG, 5ZiG, 10ZiG, 20Zig, 50ZiG, 100ZiG, and 200ZiG.
• Gold backed currency has fixed value directly linked to gold, and is convertible into gold.