SWEET NEWS: Mnangagwa’s government introduces new ‘gold-backed’ currency (SEE PICS)


Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mushayavanhu has this afternoon presented the 2024 Monetary Policy Statement (MPS).

The Governor said the Policy seeks to achieve a solid and stable currency.

Major takeaways from the MPS:

-Structured currency to be backed by reserves and royalties
-ZWL dollar currencies to be converted to ZiG
-ZiG to circulate alongside other currencies.

-Multi-currency system to stay until 2030 as per the law.
-All obligations to be converted to ZiG.
-All banks to accept Old notes for the next 21 days.

-ZiG notes 1, 2, 5, 10, 20, 100 200
-1 ZiG 6 US cents

See pics below:

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