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Zimbabwe launches new bank notes aimed at boosting confidence in local currency


The
BiG5
series
features
the
country’s
iconic
animals
to
symbolise
national
identity
and
resilience.

The
rollout
begins
with
10,
20
and
50
Zimbabwe
Gold
notes.
Higher
denominations
will
follow
later,
depending
on
demand
and
monetary
conditions.

Citizens
have
long
distrusted
their
own
currency,
viewing
US
dollars
and
South
African
rand
as
more
stable.
The
new
notes
are
part
of
a
wider
effort
to
restore
public
trust
in
local
money.

In
2024,
the
Zimbabwean
dollar
was
replaced
by
the
gold-backed
Zimbabwe
Gold,
or
ZiG,
aimed
at
giving
the
currency
a
stable
anchor
that
would
protect
it
from
the
rapid
depreciation
of
previous
monetary
regimes.

The
new
notes
will
be
available
at
banks,
cash
machines
and
through
cash
back
services
at
retail
outlets.

Old
ZiG
notes
will
remain
in
circulation
indefinitely
to
avoid
disruption
or
confusion
among
the
public.

Post
published
in:

Business