On Friday, 05 April 2024, Zimbabwe launched a new gold-backed currency called The Zimbabwe Gold (ZiG) to replace the inflation-hit Zimbabwean Dollar (ZWL). The ZiG is backed by Zimbabwe’s gold reserves, and it is effective 05 April 2024. Zimbabweans have 21 days to exchange their ZWL for the new currency.

We note that NSSA and ZIMRA have not communicated the impact of the currency change.

We will share any new information when it becomes available.