Back Zimbabwe Goud Afrikaans ذهب زيمبابوي Arabic Зымбабвійскі залаты BE-X-OLD Zimbabwský zlatý Czech Simbabwe-Gold German Oro de Zimbabue Spanish Or du Zimbabwe French Zimbabwe Gold ID ジンバブエ・ゴールド Japanese Thahabu ya Zimbabwe KI
ZiG | |
|---|---|
| ISO 4217 | |
| Code | ZWG (numeric: 924) |
| Subunit | 0.01 |
| Unit | |
| Plural | ZiGs |
| Symbol | ZiG |
| Denominations | |
| Subunit | |
| 1⁄100 | cent not a formal subunit; used only in quoting stock prices in the Zimbabwe Stock Exchange |
| Banknotes | ZiG10, ZiG20, ZiG50, ZiG100, ZiG200 |
| Coins | ZiG1⁄10, ZiG1⁄4, ZiG1⁄2, ZiG1, ZiG2, ZiG5[1] |
| Demographics | |
| Date of introduction | 8 April 2024[2] |
| Replaced | Zimbabwean dollar |
| User(s) |  Zimbabwe |
| Issuance | |
| Central bank | Reserve Bank of Zimbabwe |
| Website | www |
The Zimbabwe Gold (ZiG; code: ZWG)[3] has been the official currency of Zimbabwe since 8 April 2024,[2] backed by US$575 million worth of hard assets: foreign currencies, gold, and other precious metals.[4][5][6] It replaced the Zimbabwean dollar, which suffered from rapid depreciation, with the official exchange rate surpassing 30,000 Zimbabwean dollars per U.S. dollar on 5 April 2024, whilst the parallel market rate reached 40,000 per U.S. dollar.[7] Annual inflation in Zimbabwe hit 55.3% in March 2024.[8]
Although fractional denominations exist, the ZiG has no formal subdivisions. Cents are used by the Zimbabwe Stock Exchange, each indicating 1⁄100 of a ZiG.
- ^ "Zimbabwe introduces new 'ZiG' currency - CAJ News Africa". 6 April 2024.
- ^ a b "Zimbabwe Replaces Battered Dollar With New Gold-Backed Currency Called ZiG". Bloomberg.com. 2024-04-05. Retrieved 2024-04-05.
- ^ "ISO 4217 Amendment Number 177" (PDF). SIX Interbank Clearing. Zurich: SIX Group. 20 June 2024. Archived from the original (PDF) on 20 June 2024. Retrieved 20 June 2024.
- ^ Chikandiwa, Tafadzwa Mhlanga and Harriet. "US$575m war chest to anchor new currency". The Zimbabwe Independent. Retrieved 2024-04-05.
- ^ "Zimbabwe Launches New Gold-backed Currency". AFP. 5 April 2024 – via Barrons.
- ^ Agbetiloye, Adekunle (2024-04-05). "Zimbabwe's new gold-backed currency ZiG to replace its dollar in April". Business Insider Africa. Retrieved 2024-04-05.
- ^ "Zimbabwe introduces new gold-backed currency to tackle inflation". Al Jazeera. 5 April 2024. Archived from the original on 8 April 2024. Retrieved 6 April 2024.
- ^ Mutsaka, Farai (5 April 2024). "Zimbabwe introduces new currency as depreciation and rising inflation stoke economic turmoil". The Associated Press. Archived from the original on 7 April 2024. Retrieved 8 April 2024.
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