RBZ Unveils New ZiG Banknotes as Part of Wider Monetary Reforms

By Emelda Jinya

The Reserve Bank of Zimbabwe (RBZ) will introduce a new family of ZiG banknotes on April 7, 2026, in a move aimed at strengthening currency circulation and reinforcing economic stability.

RBZ Governor John Mushayavanhu announced that 10, 20 and 50 ZiG denominations will be released first, with higher denominations of 100 and 200 ZiG notes set to follow. The new notes will circulate alongside the current series, while worn-out notes will be gradually withdrawn from the system.

The central bank says the phased rollout is designed to improve cash availability and transactional convenience across the economy.

In addition to the new banknotes, the RBZ has introduced adjustments to bank charges. Cash withdrawals will now attract a 2 percent fee, while Point of Sale transactions will be capped at 1.5 percent. Charges on balance inquiries and cash deposits have been removed to ease the cost burden on customers.

To address rising cases of mobile money fraud, the central bank has ordered a comprehensive audit of all mobile money accounts. Unauthorized and non-compliant accounts will be deactivated as part of efforts to strengthen financial system integrity.

The RBZ has also tightened foreign exchange regulations in the mining sector. Small-scale miners are now required to surrender 10 percent of their foreign currency earnings. Meanwhile, the foreign exchange retention threshold remains at 70 percent, and the primary policy rate has been maintained at 35 percent.

According to the central bank, Zimbabwe’s national reserves currently stand at US$1.3 billion, supported by 4.2 tonnes of gold.

The RBZ says the combined measures including the introduction of new currency, revised bank charges and strengthened oversight are intended to consolidate monetary stability, enhance confidence in the ZiG and safeguard the country’s financial system.