ZIMBABWE'S international currency code has switched to ZWG from ZWL, according to the Reserve Bank of Zimbabwe (RBZ).
The country changed its currency in April this year from Zimbabwe dollar (ZWL) to Zimbabwe Gold (ZiG).
In a letter to Fanwell Mutogo, chief executive officer at Bankers Association of Zimbabwe, RBZ financial markets deputy director Josephat Mutepfa said the World Bank ISO 4217 Committee has approved the country's currency code change from ZWL to ZWG (Zimbabwe Gold) effective June 25, 2024.
"It should also be noted that the minor units of the Zimbabwe Gold shall be denominated as 'cents'. The codes ZWL and ZWG will run concurrently from the 25th of June to the 31 August 2024 to allow necessary system configurations by players," the letter reads in part.
"In this regard, the ZWL currency code will cease to be recognized from the 1st of September 2024."
The central bank encouraged all banking sector players to therefore make necessary arrangements to facilitate a smooth transition to the new currency code.
"The bank is available to offer guidance if necessary," it said.
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