ZiG 2.0 faces its biggest test

The Reserve Bank of Zimbabwe (RBZ) yesterday rolled out upgraded Zimbabwe Gold (ZiG) notes on the second anniversary of the gold-backed currency — a move meant to strengthen public confidence in a local unit that has long battled scepticism. 

The new notes will circulate alongside the existing series, which will be phased out gradually. 

The ZiG10 and ZiG20 were introduced yesterday alongside a new ZiG50 denomination, while the central bank said higher denominations — ZiG100 and ZiG200 — will be introduced in due course, guided by transactional demand and prevailing monetary conditions. 

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